Centre and States must work as Team India for long-term revival of economy: Vice President M Venkaiah Naidu

New Delhi : The Vice President, M Venkaiah Naidu today said the Centre and States should work in a Team India spirit for the long-term revival of the economy and steer India to greater heights in all spheres.

Speaking at the Platinum Jubilee Celebrations of the Hindustan Chamber of Commerce, he expressed his happiness that the Centre and various States are creating a conducive atmosphere for foreign investment. In the fiscal year 2021, the total FDI inflows stood at US $ 81.72 billion, which is a 10% year-on-year increase, he added.

He also stressed that promoting Public-Private-Partnership in different sectors, including infrastructure, health and education was vital to propel economic growth.

Referring to COVID-19 and its impact, he said that even though the second wave has slowed down the revival, the Indian economy has turned around and is firmly set on the path to recovery. Thanks to a series of timely measures and policy reforms initiated by the government, the economic situation has been improving gradually, Naidu added.

On this occasion, the Vice President appealed to the citizens to get vaccinated for COVID-19, calling it their ‘Pavitra Kartavya’ or responsibility towards their family, community and the nation. He also called upon private players to join the efforts of the government in bringing medical infrastructure and facilities accessible to people in remote and rural areas.

Stating that India stands poised on the cusp of economic transition, he said all indicators point to a long-term phase of growth and recovery in the coming months. Based on different markers, the RBI has retained the growth projection of 9.5 per cent for 2021-22.

Driven by strong macro-economic fundamentals, forward-looking reforms, opening up of FDI and improving the ease of doing business, the Indian economy has the potential to reach the US$ 5 trillion mark in the coming years, the Vice President observed.

Observing that India is blessed with a huge population of educated, talented youth and a vast pool of scientific manpower, Naidu said there has to be a greater focus on creating the right ecosystem for innovation to thrive by enhancing investments in R & D. In this context, he wanted the public sector and the private entities to join hands. He advised bodies like the Hindustan Chamber of Commerce (HCC) to play a proactive role in facilitating such tie-ups.

Naidu suggested that trade bodies and business community should evolve a common code of conduct for their members and weed out black sheep who bring a bad name to the entire corporate and business fraternity.

The Vice President also wanted bodies like Hindustan Chamber of Commerce to take up training and upskilling of youth and ensure that they not only become employable but also are capable of self-employment. “They should be imparted the required skills and knowledge to become job creators rather than job seekers”, he added.

Referring to the recent statement of Tamil Naidu Chief Minister, M K Stalin on the need to rewrite history, the Vice President said that the history of the Indian sub-continent must be rewritten with an Indian perspective and not through a colonial lens.

Lauding the talented, skilled and hardworking people of Tamil Nadu, he said that Tamil Nadu is an attractive place for investments with a stable and investor-friendly government; good connectivity and infrastructure.

Banwarilal Purohit, Hon’ble Governor of Tamil Nadu, Punjab & Administrator of Chandigarh, L. Ganesan, Hon’ble Governor of Manipur, K.K.S.S.R. Ramachandran, Tamil Nadu Minister for Revenue and Disaster Management, Dr Pratap C. Reddy, Founder Chairman, Apollo Group,  Ashok R. Thakkar, Chairman, Platinum Jubilee Celebrations, Sathyanarayan R. Dave, President, Hindustan Chamber of Commerce, representatives from the industry and others were present during the event.