Prime Minister's Assurance Of Working Closely With Industry Will Rejuvenate Private Sector Says FICCI

Industry body FICCI has welcomed Prime Minister Narendra Modi's recognition of the contribution of industry and industrialists in national growth and also his strong refusal to accept any ill-treatment to the industrialists just because a few of them have indulged in illegal activities.

Along with the assurance to work closely with the industry, the Prime Minister's strong message to the industrialists opting for illegal means to harm the nation and its economy that they will not be spared, will certainly help in removing any negative opinion in the public against industry in general, and will rejuvenate the private sector noted Rashesh Shah, President, FICCI.

Without reviving the industry's confidence to invest, it will be difficult to attain 8% plus growth in coming years in a sustained manner, and by reminding that the nation is proud of its industrialists, Prime Minster Modi has strengthened industry's resolve to actively participate in the revival of the economy, according to Shah.

While there should be no leniency in dealing with the erring industrialists, the pre-dominant approach of the industrialists has always been to take a lead in nation-building. Reforms like, IBC, RERA and GST, have shown that the government is keen to help industry in this objective,he said further.Shah also stressed that, on its part, the private sector too has to work wholeheartedly to strengthen public confidence in its capacity to take the country to a higher growth path.

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