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Expressing optimism over the growth of India’s economy, Minister of State for External Affairs V Muraleedharan has said that the economy is bouncing back strongly, domestic consumption is increasing and industrial production is at pre-COVID level. He also emphasized that the reforms implemented by the government has provided fillip to the business ecosystem in the country. He said the Narendra Modi government has undertaken ‘far-reaching’ structural reforms, making use of the mantra of ‘Reform, Perform and Transform’. He added ‘These reforms range from digital transactions to banking reforms, to combating corruption, controlling inflation. Now more than 90% of the FDI approvals have been put on the automatic approval route. We are promoting an ecosystem of creativity and innovation in every field’.

Muraleedharan said the reforms being undertaken by the government provides fillip to the business ecosystem in India and the diaspora could play a significant role in the process by roping in more investments and bringing in technology and skills into the country. He said ‘We firmly believe that with the improving ecosystem and better engagement with the diaspora, new ideas will germinate in the country’. He also said ‘It is evidently clear that the economy is bouncing back strongly. Domestic consumption is increasing and industrial production is at pre-COVID levels’.

The minister noted that to provide further fillip to the manufacturing sector, the government has approved production linked incentive schemes in 10 key sectors to give a boost to the economy affected by the COVID19 pandemic. Muraleedharan also lauded the work being done by Bhagwan Mahaveer Viklang Sahayata Samiti (BMVSS) and Jaipur Foot USA. He said ‘The organisation’s transformative service to the underprivileged free of cost deserves special mention’. The minister added that Jaipur Foot camps have helped change lives of many people not only in India but across the globe from Asia to Africa to Latin America.