FICCI welcomes Modi’s acknowledgement of the role of Indian industry and business

FICCI

The Federation of Indian Chambers of Commerce and Industry (FICCI) has welcomed Prime Minister Narendra Modi’s acknowledgement of the role of Indian industry and business.

Expressing his appreciation over the PM’s statement, Uday Shankar, President, FICCI said, "While this speaks of the vision of the Hon’ble Prime Minister in the role played by the industry in nation-building; it also puts an enormous responsibility on the business community to rise up to keep national interest above everything else."

The FICCI president also added that the PM's acknowledgement comes as a much-needed shot in the arm for entrepreneurs and the business community, especially at a time when Indian industries are making attempts to recover from the COVID-19 pandemic.

The statement reiterated the contribution of the private sector to the GDP and employment in the country and said that a 'national consensus must be created' to ensure members of the private sector get their due credit for creating jobs and contributing to the economy.

"FICCI is thankful to the Prime Minister for recognizing the contribution of Indian entrepreneurs and emphasizing the role of public-private partnership in building our great nation,” said Mr Shankar.

On February 10, Prime Minister Modi in his reply to the Motion of Thanks on the President’s address in the Lok Sabha, very clearly stated the importance of the private sector in the Indian economy.

Modi said it was not right to malign wealth creators as they were important for generating employment in the country. “Wealth creators are required in the country. How else can wealth be distributed, who will create employment,” the PM asked.