New Delhi: Home Minister Amit Shah said on Friday that the time has come to change both the size and scale of the Indian industry and the need of the hour is companies should go multinational.
Addressing the 118th annual session of the PHD Chamber of Commerce and Industry (PHDCCI), he said the network of small industries along with big industries will have to be strengthened, and the chamber will have to come forward strongly to provide guidance and infrastructure in this.
The chamber will have to create an ecosystem so that youths, women and MSMEs can get maximum benefits from the policies of the government, he said.
Shah said the PHDCCI has a decisive role in taking the country’s industries to new heights in the Amrit Kaal of the next 25 years, i.e., the period between the 75th anniversary of Independence and the centenary.
He said the biggest achievement in these 75 years has been that India as a country has succeeded in deepening the roots of democracy, adding the country has shown the world that governance in terms of policy is a continuous process.
Shah said that according to the principle of “Vasudhaiva Kutumbakam”, India is leading the world in solving global problems across all sectors.
Now the world is looking towards India in all areas including fight against terrorism, solar alliance, green energy etc. and many of our initiatives are guiding the world today, he said.
Shah said Prime Minister Narendra Modi has worked with a vision to lay a strong foundation for India in all areas affecting the world economy for the coming 25 years.
‘The time has come to change both the size and scale of the Indian industry, and the Chamber of Commerce should think in the direction of this initiative. Our companies will have to work towards becoming multinational, and now the need of the hour is for Indian companies to become multinational,’ he said.
Shah said India has secured its place in all the sectors like green hydrogen, semiconductors, electric vehicles, solar energy, defence, drones, space, mining and green fuel ethanol, which are going to impact the world economy for the next 25 years.
Citing the pole position that India has attained in the production of pulses, milk, jute production, and railway engines. the Home Minister said we will have to increase investment in research and development. ‘Apart from this, today we are in second place in the world in mobile handset production, cement, steel and cotton production, and we have also reached second place in tea production. We have reached the third position in startups and motor vehicles. This shows that if we decide, we deliver,’ he said. The last nine years have witnessed decisive policies, political stability, democracy and teamwork in the federal structure that led the country out of the “policy paralysis” which was prevalent during 2004-14, Shah said.