Union Home Minister Amit Shah has said that the Centre’s ‘Make in India 2.0’ initiative will focus on emerging sectors that will be a big part of the global economy in the next 25 years. Speaking at the awards ceremony in Mumbai today, Mr Shah said India’s vibrant economy is a bright spot in the global arena. He said that robust economic performance, political stability are key pillars of the economy, and along with long-term reforms, India is shining bright globally.

He said that Prime Minister Narendra Modi began reforms in the banking sector, which was plagued by corruption and a lack of transparency. He stated that a total of 53 crore bank accounts have been opened in the last 10 years to give the poorest of the poor access to banking. He added that the government brought in transparency in the data concerning Non-Performing Assets (NPA). He further added that the government infused 3.10 lakh crore rupees in the banking sector.

Mr Shah said that Make in India has been instrumental in bringing about policy reforms to enable the country to become a manufacturing hub. Mr Shah said that green growth, defence manufacturing are going to be the key drivers for growth going forward. Speaking about the latest GST reforms, Mr Shah said it is the biggest example of structural reforms undertaken in recent times.