Public, private sector need to think out of box to seize global opportunities: PM

Prime Minister Narendra Modi addresses voice of global south summit. We, the Global South, have the largest stakes in the future," he says.

Prime Minister Narendra Modi on Friday said both public and private sectors need to leverage synergies and think out of the box to seize opportunities arising as a result of the emerging global environment.

While interacting with noted economists and experts at NITI Aayog ahead of the Union Budget, the Prime Minister also applauded the success of the India Digital story and the rapid adoption of fintech across the country, an official statement said.

During the meeting, economists offered suggestions on ways in which India can sustain its development momentum, it added. They said that due to its resilience, India has emerged as a bright spot on the turbulent global stage.

Union Finance Minister Nirmala Sitharaman and senior government functionaries were present at the interaction. Niti Aayog Vice-Chairman Suman Bery and other members were also present, said sources. Economists who participated in the meeting included Shankar Acharya, Ashok Gulati, and Shamika Ravi.

In his remarks, Modi noted that while there were risks, the emerging global environment offers new and diverse opportunities in areas such as digitisation, energy, health care and agriculture. To seize these opportunities, both public and private sectors need to leverage synergies and think out of the box, the release quoted him saying.

The Prime Minister applauded the success of the India Digital story and the rapid adoption of fintech across the country, and the potential for inclusive growth and development it promises. He also underscored Nari Shakti as a key driver of India's growth and urged to continue making efforts to further enable and boost women's participation in the workforce.

The release further said participants offered practical measures on ways in which India could prudently sustain its development momentum. Ideas and suggestions were shared with the Prime Minister on diverse topics ranging from agriculture to manufacturing.

Recognizing that the underlying global headwinds are likely to continue, strategic recommendations were also shared for further strengthening India's resilience.

”There was agreement that due to its resilience, India has emerged as a bright spot on the turbulent global stage,” the release said. It was suggested that new growth impulses would need to build upon this foundation through holistic development across all sectors. The deliberations were based on the theme 'India's Growth & Resilience Amidst Global Headwinds'.