Prime Minister Narendra Modi on Saturday delivered the keynote address at the 93rd Annual General Meeting of Federation of Indian Chambers of Commerce and Industry -- the largest, oldest and the apex business chamber of India.

Even as farmed stepped up their agitation along the Delhi border against the farm laws, Prime Minister Modi defended the reforms and said these will open new avenues in front of the farmers. 

Here are highlights of PM Modi's speech

"In 2022, India will complete 75th year of Independence. FICCI has played a very important role in development in the country and on its 100th anniversary, it needs to ensure that its practices strengthen India's aim for Aatmanirbhar Bharat."

"We had seen walls between agriculture sector and other areas associated with it, be it agriculture infrastructure, food processing, storage or cold chain. All walls and obstacles are being removed now. After reforms, farmers will get new markets, options and more benefits of technology."

"Today, farmers of India can sell their produce both at the mandis, as well as outside. Farmers can also sell their produce on digital platforms. We have taken all these initiatives to increase the farmers' income and make them more prosperous."

"The rural India is undergoing a massive change today. The active internet users in rural India today is higher than urban India. More than half of India's start-ups are in Tier-II and Tier-III cities."

"Every month, UPI witnesses transactions worth Rs 4 lakh crore every month and the record is being broken every year. Digital payments are being made possible even on small vendors in rural parts of the country."

"The world's largest Direct Bank Transfer system is working in India. It has been heavily lauded in the International Journal recently. India, unlike most countries, was able to send crores of money to its poor and needy via DBT during the COVID pandemic."

"Our economy does not need hurdles between sectors, but bridges to support each other. In the last few years, we have made reforms to break all such hurdles."

"In a vibrant economy, when a sector grows, it has a direct influence of other sectors as well. Reforms that we're doing are removing all such needless frameworks. The agriculture sector is one such example."

"India's corporate tax is the among the most competitive in the world. We're also one of the few countries that have faceless assessment and faceless appeal facility. We have left behind the era of Inspector Raj and tax terrorism."

"A decisive govt doesn't want to keep all the power to itself. This approach had created a very poor situation. Instead, the right govt wants all stakeholders to use all of its talents and contribute. India has witnessed that in the last six years."

"India's private sector can not just fulfill our domestic needs, but also can create a global image for itself. AatmanirbharBharat Abhiyan is a vision to make quality products in India and make Indian industries competitive."

"The country that saves most of its citizens during a global pandemic is capable of rebounding in all other sectors. India preferred saving lives and the world is seeing results. The entire country took several key steps together in fighting the pandemic."

"The economic indicators are raising hopes today. The country has learnt a lot during difficult times and it has given our aspirations even more strength. A lot of credit goes to our entrepreneurs, our youth, our farmers and all Indians."

"There have been several ups and downs this year and when we look back and think about the COVID pandemic, we might not even believe it. A good omen is that the speed of recovery is good."