Mumbai: At a time when U.S. President Donald Trump is in a trade war by imposing higher tariffs and encouraging protectionism for the world’s largest economy, Prime Minister Narendra Modi’s message to India Inc. is to be self reliant, ‘Make in India,’ and invest in the country in a big way, especially in the agriculture sector.
After a long gap, the PM held a round table conference with 41 business leaders on Tuesday at Raj Bhawan. Among those who attended are Reliance Industries chairman Mukesh Ambani, Aditya Birla Group chairman Kumar Mangalam Birla, Mahindra Group chairman Anand Mahindra, HDFC chairman Deepak Parekh, RPG Group chairman Harsh Goenka, Godrej Group chairman Adi Godrej, L&T MD and CEO S.N. Subrahmanyan, BSE CEO Ashish Chauhan, and Edelwiess Group chairman Rashesh Shah.
“PM Modi to India Inc: Be self-reliant #MakeInIndia, Housing, agri, micro-irrigation, battery storage, defence has huge potential for Corporate sector, Digital India is the future, Govt and private sector need to be partners in progress,” Mr. Goenka tweeted after the meeting.
Emphasising on the domestic manufacturing, the PM spoke of the need to boost production in medical devices, electronics, and defence. He said a positive mindset, and a ‘can do’ spirit is now pervading the country.
“More important than the issues discussed was the fact that he not only spent more time than budgeted, but also conversed in an unhurried manner with all for 45 minutes over tea,” Mr. Mahindra told The Hindu .
A government statement said several representatives from the industry appreciated the improvement in the business environment, and said this will lead to realization of India’s growth potential. The statement also said the policy reforms and initiatives taken by the government and the industry’s contribution to economic growth and development were discussed.
Earlier, Finance Minister Piyush Goyal highlighted the initiatives taken by the government to steer the economy to a higher trajectory.
