New Delhi: Ahead of the Union Budget, Prime Minister Narendra Modi met Indian industry leaders in sectors such as banking, infrastructure, automobiles, telecom, consumer goods, textiles, renewables, hospitality, technology, healthcare, space and electronics . on Monday.
The two-hour meeting took place in the backdrop of India’s economic recovery amid emerging concerns over the Omicron version of the coronavirus, which first originated in China’s Wuhan.
The meeting was attended by Kotak Mahindra Bank Chief Executive Uday Kotak, TCS Chief Executive Officer (CEO) and Managing Director (MD) Rajesh Gopinathan, Maruti Suzuki CEO and MD Kenichi Ayukawa, Hindustan Unilever Limited Chairman and Managing Director (CMD) Sanjiv Mehta. participated. TV Narendran, CEO and Managing Director of Tata Steel Ltd., Mallika Srinivasan, CMD, Tractors and Farm Equipments Ltd., Sumant Sinha, chairman and MD, Renew Power, and Vineet Mittal, chairman of Avada Group, among others. Union Commerce and Industry Minister Piyush Goyal was also present.
“This is one of the many talks being held by PM @narendramodi ahead of the budget to get inputs and suggestions from the private sector,” the Press Information Bureau said in a tweet.
During the meeting, the Prime Minister talked about the inherent strength of the country, which it displayed during the fight against COVID. He thanked the industry leaders for their inputs and suggestions and encouraged them to make full use of policies like PLI incentives.
He said that just as the country wants to finish the podium in the Olympics, the country also wants to see our industries in the top five of the world in every field, and this is something for which we must work collectively.
He said that the corporate sector should invest more in sectors like agriculture and food processing and focused on natural farming. He underlined the policy stability of the government and said that the government was committed to take such initiatives which would accelerate the economic progress of the country. He also spoke about the government’s focus towards reducing the compliance burden, and sought suggestions on areas where improper compliance needs to be removed.
Industry representatives gave their feedback to the Prime Minister. He thanked the Prime Minister for putting his trust in the private sector and expressed commitment to contribute to the Prime Minister’s vision of Atmanirbhar Bharat, and praised the many initiatives taken by the government such as PM Gatishakti, IBC etc.
He explained the steps that can be taken to further promote ease of doing business in the country. He also talked about India’s commitments at COP26 and how industry can contribute in achieving the targets outlined.
TV Narendran, CEO and MD, Tata Steel and chairman of industry body CII said that the government’s timely response has led to a post-Covid V-shaped recovery, while ITC Chairman and Managing Director Sanjiv Puri gave a further boost to the food processing industry. Suggestions to give.
Uday Kotak, CEO, Kotak Mahindra Bank said that PM has brought about significant change through simple yet beautifully articulated reforms like Swachh Bharat, Start Up India. He said that the time has come for the financial and banking sectors of the country to think about scale without any fear. “I am very excited about the potential of India and Indian banking and finance is out there and ready to support the industry in sustainability, inclusion, digital and infrastructure. We will grow, we will make India real and Indian The financial sector will make India as per the dreams of the PM,” Kotak said.
JSW Steel Joint MD and Group CFO Seshagiri Rao suggested that the newly announced scrappage policy could be made more comprehensive to allow large industry participation.
Coming out of his meeting with Prime Minister Kenichi Ayukawa, Maruti Suzuki CEO and Managing Director said that the industry is fully committed to contribute to the PM’s grand vision of creating a manufacturing hub, increasing exports and increasing localisation. “Most foreign investors would prefer to invest in India as they have confidence in the policies established with the Indian Prime Minister,” he said.
Sumant Sinha, Chairman and MD, Renew Power, said that the PM’s leadership in Glasgow was highly appreciated by members of the global community. Rajesh Gopinathan, CEO & MD, TCS said that the PM had given a very clear vision statement which said that we should be in top 5 in global rankings in every sector, in every industry, and if possible at No. Must be 01. “That kind of attitude, that kind of tone from above, I think will excite the country to move on from our current success and try to do something more,” he said.
“… what was really clear today was that this is a very courageous and confident India. The whole conversation today was about how do we take India forward,” said Mallika Srinivasan, CMD, Tractors & Farm Equipment Ltd said.
Preeta Reddy, Vice Chairperson, Apollo Hospitals spoke about the steps to boost human resources in health, while Ritesh Agarwal, Founder and Chairman, OYO spoke about the need to focus on emerging areas like AI and Machine Learning.
This meeting was the second such interaction of the Prime Minister with industry representatives ahead of the next Union Budget. With the budget round the corner and the threat of a fresh pandemic looming large, the government and industry are looking to do the best they can to keep the wheels of the economy moving.
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