Swadeshi is creating value in India, where the company is from doesn't matter: CII President Rajiv Memani

Reforms Reloaded Summit

CII President Rajiv Memani said 'Swadeshi' means creating value in India. Speaking at Network18 Reforms Reloaded 2025 summit in Delhi, the Chairman and CEO of the India region of EY said any company's parentage, or where it comes from, doesn't matter.

"India is very open. We need investments, we need to create more jobs, we need to be engaging with the global economies, we need to become more competitive. I don't think India should be going to a point, or I don't think that it is the intention of the government, to say that we are a closed economy," Memani said.

The industry expert noted that India has to create opportunities for its large, young population. He added that India is addressing global challenges diplomatically, showing the intrinsic strength of the government.

Amid global uncertainties following US President Donald Trump's tariff flipflops, Memani said India must diversify relationships. "India's recent signing of FTAs, more strategic engagements with areas like Middle East, ways to engage with other emerging markets – these will ensure strategic independence in the way India as a country operates,” he said.

Speaking at the same panel discussion, Dabur CEO Mohit Malhotra however said that GST rate cuts will boost the Swadeshi companies who produce here, sell here, pocket the profits here and generate employment here, unlike companies that produce under the garb of 'Make in India' but shift the royalties overseas.

Prime Minister Narendra Modi on Sunday said that India will take an important step towards building an Atmanirbhar Bharat, stressing the need for quality manufacturing and swadeshi practices to strengthen the economy.

Calling for a revival of the swadeshi spirit that powered India’s freedom struggle, the Prime Minister said the country’s development must rest on the foundation of homegrown industries. "The comb in our pocket is made in India or not, we don’t know. We need to buy made-in-India products. We need to make every household a symbol of swadeshi. Garv se kaho ye swadeshi hai," he added.

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