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Prime Minister Narendra Modi on Monday interacted with chief executives of companies from various sectors of industry at his official residence.

This was the second such interaction between the Prime Minister and industry representatives in the run-up to the next Union Budget.

"The Prime Minister talked about the inherent strength of the country, displayed during the battle against Covid. He thanked the industry leaders for their inputs and suggestions, and exhorted them to make full use of policies like PLI incentive," said the Prime Minister's Office in a statement.

"He said that just like the country aspires for a podium finish at the Olympics, the country also wants to see our industries among the top five of the world in every sector, and this is something for which we should collectively work towards."

Besides, the Prime Minister said that the corporate sector should invest more in areas like agriculture and food processing, and talked about the shifting focus on natural farming.

"He underlined the policy consistency of the government, and said that the government is firmly committed to take initiatives which will give impetus to economic progress of the country.

"He also spoke about the focus of the government towards reducing compliance burden, and sought suggestions on areas where undue compliances need to be removed," the statement said.

On their part, the industry representatives gave feedback to the Prime Minister, it added.

"They spoke about steps that can be taken to further boost 'Ease of Doing Business' in the country. They also talked about India's commitments at 'COP26' and how industry could contribute towards achieving the goals outlined."