Prime Minister Narendra Modi has said that his government will stand by those who are moving ahead with honesty, competing fairly and creating wealth but deal strictly with corruption.

Addressing the ET Global Business Summit in New Delhi, PM Modi said, the government has broken the status quo with its conviction of purpose while simplifying rules and ensuring transparency.

The Prime Minister said due to various reasons the global economy has been going through a difficult phase but the government has taken several measures to minimise its impact on India.

He said the fundamentals of the Indian economy are strong and policies are clear which will enable the country to achieve the goal of a five trillion dollar economy.

PM Modi said government is working at four levels to achieve the five trillion dollar goal. These are collaboration, fair competition, wealth creation and deletion of archaic laws, he added.