Prime Minister Narendra Modi's assertion that he was not afraid of being seen with industrialists playing a key role in India's development is a shot in the arm for the industry at a time when it is dealing with a strong negative perception, India Inc said on Monday.
"A much-needed vote of confidence at a time when only one unfortunate face of the industry was being perceived...", Mahindra Group Chairman Anand Mahindra tweeted.
Industry chamber Ficci said it hails PM Modi's recognition of the industry's contribution in the country's growth and 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," Ficci President Rashesh Shah said.
The prime minister has strengthened industry's resolve to actively participate in the revival of the economy, he added.
"While there should be no leniency in dealing with the erring industrialists, the predominant 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 the industry in this objective," Shah noted.
The prime minister has given a strong vote of confidence to industry and emphasised that industry plays a vital role in nation-building. This offers huge comfort to the industry as it validates our efforts to invest, create jobs and contribute to development, CII President Rakesh Bharti Mittal said.
The prime minister in Lucknow yesterday said he was not afraid of being seen with industrialists playing a key role in the nation's development as he slammed the opposition parties for the "mistakes" made during 70 years after India's independence.
Attacking them for calling industrialists "chor and luterey", Modi said that he did not hesitate in standing with the business community as his "intentions" are clear.
"We are not those who are scared of standing next to businessmen," he said, adding like farmers, bankers, government employees and labourers, industrialists also contributed to the development of the country.
Modi's retort came against the backdrop of the repeated attacks by the Congress, which has been alleging that the prime minister had links with "corrupt" industrialists and has been accusing him of neglecting the farmers and the underprivileged.