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Govt's Rs 100 trn infra plan to ensure all-round development: Industry

The announcement of a Rs 100 lakh crore 'Gatishakti' initiative by Prime Minister Narendra Modi will lead to an all-round national development with focus on jobs, growth

India Inc | Indian Economy

Press Trust of India  |  New Delhi 

India will invest Rs 100 trillion rupees in infrastructure to boost economic growth, says Prime Minister Narendra Modi. (Photo: Bloomberg)

The announcement of a Rs 100 lakh crore 'Gatishakti' initiative by Prime Minister Narendra Modi will lead to an all-round national development with focus on jobs, growth and self-reliance, said on Sunday.

CII President TV Narendran said Prime Minister's speech comprehensively outlined a strategic economic vision that embraced various critical sectors of the economy.

"The proposed Pradhan Mantri Gati Shakti programme of Rs 100 lakh crore promises to converge infrastructure, manufacturing and competitiveness to drive India's future growth and create employment. His words on manufacturing quality to build pride in Indian products were timely with a renewed thrust on the mission," he said.

Addressing the nation from the ramparts of the Red Fort on India's 75th Independence Day, Modi said India will launch the 'Pradhan Mantri Gatishakti National Master Plan', which will help local manufacturers turn globally competitive and also develop possibilities of new future economic zones.

"At the same time, the stress on providing basic amenities at the grassroots to all and policies to empower farmers are welcome as they would set the foundation for new growth waves. The progressive perspectives on sustainability, hydrogen, innovation and technology encourage industry to move on these paths and would help maintain the momentum of India's growth path," he added.

The CII also said that through the National Hydrogen Mission, India has the potential to gain global leadership and it would help reduce India's carbon footprint and offer new opportunities for industry at the same time.

PHDCCI President Sanjay Aggarwal said that 'Sabka Prayas' along with 'Sabka Saath, Sabka Vikas, Sabka Vishwas' signals the much needed change in mindset, inviting citizens and corporates to contribute equally for building a new India.

"Gatishakti will create a foundation for holistic infrastructure and give an integrated pathway to our economy. This increased spending on infrastructure will give a multiplier effect to rejuvenate the aggregate demand in the economy. Undoubtedly, robust growth of infrastructure is the key ingredient to realise the vision of Aatmanirbhar Bharat," Aggarwal said.

Assocham said that Gatishakti "would lead to all-round national development with focus on jobs, growth, self-reliance and edge to Indian products/services in the global market".

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Sun, August 15 2021. 15:35 IST