Prime Minister Narendra Modi is addressing CII’s 125th anniversary where he said that the government has taken ample steps to revive faltering economy as alarm bells ring for Indian economy. Stating that he has confidence in India’s growth story, PM Modi said that he is sure Indian economy will revive on the back of entrepreneurs, frontline warriors and industrialists. Further, he also enumerated the government’s recent efforts towards making India a self reliant economy.
Top industry leaders including Uday Kotak and Vikram Kirloskar are also attending the event where the panel is discussing ‘how to get growth back’. Meanwhile, as coronavirus continues to take its toll on the world economy, India is no different and rating agency Moody’s Investors Services has also downgraded its India rating from Baa2 to Baa3 and has maintained a negative forecast for this year. The recently released GDP numbers and manufacturing data has also not been promising.