India Inc lauds PM Modi’s comments

New Delhi: India Inc on Thursday lauded Prime Minister Narendra Modi’s comments in the Parliament on the private sector, saying it boosted the confidence of entrepreneurs. The PM on Wednesday had in the Lok Sabha said abusing wealth creators for votes was no longer acceptable.

"If the public sector is important, so is the participation of private enterprise,” Modi said, exhorting the need for greater private participation in business. "Wealth creators are important for distributing wealth,” Uday Kotak, President, Confederation of Indian Industry, was quoted as saying in a statement by the industry body.

PM's recognition of the role of private sector in Parliament has boosted the morale of every entrepreneur, Kotak said. While this speaks of the vision of the PM in the role played by the industry in nation building, it also puts enormous responsibility on the business community to rise up to keep national interest above everything else, Uday Shankar, President of the Federation of Indian Chambers of Commerce & Industry said in a statement.


“At a time that the COVID-hit Indian industry is trying to pick up its rhythm of high growth, Prime Minister’s acknowledgment would be a much-needed shot in the arm for entrepreneurs and the business community,” Shankar was quoted as saying in a statement.