PM Modi At Assocham: Record FDI As World Trusts India; Invest In R&D In Agri, Pharma, Space, Energy

New Delhi: Prime Minister Narendra Modi delivered the keynote address at ASSOCHAM Foundation Week 2020 via video conferencing on Saturday, 19th December. The Prime Minister also presented the ‘ASSOCHAM Enterprise of the Century Award’ to Ratan Tata, who received the award on behalf of the TATA Group. According to a press statement from the Prime Minister’s Office, addressing the gathering, Prime Minister Modi commended the business community for their contribution to nation-building. He declared that now the industry has complete freedom to touch the sky and urged them to take full advantage of this, urging them to put full strength in the coming years for a self-reliant India. 

The Prime Minister said the country today is with enterprise and wealth creators giving opportunities to crores of youth. The Government is continuing efforts to build an efficient and friendly ecosystem. He urged the industry to ensure that its benefits reach the last mile by bringing reforms within the industry like more inclusion of women and young talent, adopting the best practices of the world as soon as possible, corporate governance, and profit sharing.

PM Modi said even during the pandemic when the whole world is troubled for investment, record FDI and PFI have come to India as the world trusts the Indian economy now. He called for the industry to increase the domestic investment drastically in line with the increased confidence of the world.

He lamented the poor investment in Research & Development by Indian Industry, comparing it with USA where 70% of the investment in R&D is from the private sector. He asked the Indian industry to increase their investments in R&D, especially in sectors like agriculture, defense, space, energy, construction, pharma, and transport sector. He further said in every sector, all the companies should earmark a certain amount for R&D.

The Prime Minister remarked that the world is moving rapidly towards the fourth industrial revolution, and that challenges will come in the form of new technology, and many solutions will follow. He said today is the time to plan and act. He urged the business leaders to come together every year and connect every goal with one larger goal of nation building. He said the coming 27 years, when free India will reach its century, will not only determine India’s global role, but it will test both the dreams and dedication of Indians, adding that this is the time to show the capability, commitment, and courage of Indian Industry to the world. The PM stressed that not only is achieving self-reliance is important, but how soon this goal is achieved is equally important.

Prime Minister Modi remarked that there was never so much positivity in the world about India’s success before. He credited this positivity to the unprecedented confidence of over 130 crore Indians. Now India is making new avenues to move forward, moving ahead with new energy, he said, adding that reforms in the country have influence in changing the sentiment of the industry from ‘Why India’ to ‘Why not India’ in investing.

PM Modi remarked that New India, by relying on its strength, relying on its own resources, is pushing forward for “AtmaNirbhar Bharat” and a special focus is on manufacturing to achieve this goal. He said reforms are constantly being undertaken to promote manufacturing in India.

The Prime Minister said today, as India is moving forward on mission mode to make local a global one, the country has to react quickly to every geopolitical development. He stressed on the need to have an effective mechanism for how India will meet any sudden demand in the global supply chain. He said the need of the hour is to achieve better synergy between industry organisations such as ASSOCHAM with the Ministry of External Affairs and the Ministry of Commerce & Trade to achieve this goal, asking the industry for suggestions and ideas on how to react quickly to global transformations, and how to have better mechanisms for a faster response.

Prime Minister Modi said India is also capable of helping the world while meeting its needs. Even during the period of Covid-19, India has taken the responsibility of the pharmacy of the world and delivered essential medicines around the world, he observed, adding that now even in the case of vaccines, India will fulfill its needs and also meet the expectations of many countries. He urged members of ASSOCHAM to provide a global platform for showcasing the products of rural artisans, saying this would help in bridging the rural-urban divide. He stressed the need for the Government of India to work together with state governments, farm organisations, and industry associations for better promotion of organic farm products, better infrastructure, and a better market. This will help the entire rural economy reach a new high, he said.

PM Modi said that at the beginning of the 21st century, then-Prime Minister Atal Bihar Vajpayee aimed to connect India with the highways. Today, there is a special focus on physical and digital infrastructure in the country, he observed, saying India is engaged in providing broadband connectivity to every village in the country so that the reach of the village farmer is also up to digitally global markets. He urged using every avenue associated with funding to build better infrastructure, saying strengthening public sector banks and increasing the potential of bond markets are efforts in that direction. Similarly, Sovereign Wealth Funds and Pension Funds are being tax exempted, REITs and INVITs are being promoted, and infrastructure-related assets are being monetised, he remarked.Prime Minister Modi said the Government can provide the necessary facilities, create the right environment, give incentives, and change policies. But it is the industry partners who can convert this support into success. He concluded by saying that for the dream of a self-reliant India, the country has made up its mind for the necessary changes in the rules and regulations and the country is committed. Source: https://indusdictum.com

Read More........ → August 09, 2022

Joe Biden appoints two Indian-Americans to advisory committee for Trade Policy, Negotiations

US President Joe Biden on Friday named two Indian-Americans Revathi Advaithi, CEO of Flex, and Manish Bapna, CEO of the Natural Resources Defence Council to the Advisory Committee for Trade Policy and Negotiations. On Friday, Biden announced his intent to appoint 14 people to the Advisory Committee, which provides overall policy advice to the United States Trade Representative on matters of development, implementation, and administration of the US trade policy. Among these include negotiating objectives and bargaining positions before entering into trade agreements, the impact of the implementation of trade agreements, matters concerning the operation of any trade agreement once entered into, and other matters arising in connection with the development, implementation, and administration of the trade policy of the United States, the White House said. Revathi Advaithi is CEO of Flex, "the global manufacturing partner of choice that helps a diverse customer base design and build products to improve the world". Since assuming the role in 2019, Advaithi has been responsible for architecting the company's strategic direction and leading Flex through a transformation that is defining a new era in manufacturing, the White House said. Prior to Flex, Advaithi was president and Chief Operating Officer for the electrical sector business for Eaton, a company with more than USD20 billion in sales and 102,000 employees. She has also worked at Eaton's electrical sector, Americas, and Honeywell, and serves on the Board of Directors of Uber and Catalyst.org. Advaithi is a Co-Chair of the World Economic Forum (WEF) Advanced Manufacturing CEO Community and joined the WEF Alliance of CEO Climate Leaders. She was recognized on Fortune's Most Powerful Women in Business list for four consecutive years and named one of Business Today's Most Powerful Women in India. She holds a bachelor's degree in mechanical engineering from the Birla Institute of Technology and Science and an MBA from the Thunderbird School of Global Management. Manish Bapna is president and CEO of the Natural Resources Defence Council (NRDC), which has been behind many of the most significant environmental milestones of the last half century from the creation of bedrock environmental laws, to landmark legal victories, and foundational research, the White House said. During his 25-year career, Bapna's leadership roles have focused on tackling the root causes of poverty and climate change with strategies that are equitable, durable, and scalable. Most recently, he served as Executive Vice President and Managing Director of the World Resources Institute, a research organization focused on the intersection of the environment and human development, for more than 14 years. An economist by training, he got his start at McKinsey & Company and the World Bank before pursuing a career in advocacy at the Bank Information Centre. He has master's degrees in Business and Political and Economic Development from Harvard University and a bachelor's degree in Electrical Engineering from MIT, the White House said. Copyright © Jammu Links News Source - Jammu Links News

Read More........ → March 14, 2023

Building Mahatma Gandhi’s legacy: We must be the change we wish to see in the world

On this 151st birth anniversary of Mahatma Gandhi, we are facing two grave crises. The first is the COVID-19 health crisis. Scientists and medical experts are currently developing vaccines to address this pandemic. The second is democracy is in crisis characterized by the diminishment of liberal values, the rise of rightwing demagogues, and the suppression of human rights and religious freedom in many important parts of the world. 

The antidote - the vaccine - for the second crisis is the teachings of leaders like Mahatma Gandhi and Martin Luther King. What is the state of democracy in the world today? How strong a vaccine will we need to stem this virus? 

Democracy in crisis

Sadly, I must say that the state is not good. In fact, it could be called awful. Two years ago, Freedom House - a Washington-based organization that conducts research and advocacy on democracy, political freedom, and human rights - declared in its report Freedom in the World 2018 that democracy was in crisis. That the report showed 71 countries suffered net declines in political rights and civil liberties. Freedom House’s 2019 showed net declines in 68 countries. A Pew Research Center survey last year found that in the United States 40 percent of the respondents were fully committed to representative democracy, 46 percent were less committed, and seven percent preferred a non-democratic option.

The Pew study disclosed that of all the countries surveyed “support for a strong leader who is unchecked by the judiciary or parliament was highest in India.” Only eight percent of the Indian respondents were fully committed to representative democracy; 67 percent were less committed, and nine percent preferred a non-democratic option.

Gandhi and Martin Luther King

India and the United States are the world’s two largest democracies. Active and engaged citizenship is essential to keep those democracies vital and vibrant and exemplars for democracy world-wide - and to fulfill the vision of Gandhi and King. I was awarded the Martin Luther King Award in the United States in 2015. I felt doubly blessed to be given that honor because of the indelible connection between King and the other equally famous civil and human rights leader from my homeland of India, Mahatma Gandhi.

As Dr. King noted in a radio broadcast during a visit to India in 1959, “If this age is to survive it must follow the way of love and non-violence that Gandhi so nobly illustrated in his life.”

Mahatma Gandhi told us, “You must be the change you wish to see in the world.” Dr. King advised us that, “Every man must decide whether he will walk in the light of creative altruism or in the darkness of destructive selfishness.”

It is a critically important one. Because as the novelist and civil rights activist Marian Wright Edelman observed, “A lot of people are waiting for Martin Luther King or Mahatma Gandhi to come back - but they are gone. We are it. It is up to us. It is up to you.”

I agree wholeheartedly with Wright Edelman’s statement of responsibility to carry forward the good work of King and Gandhi. They live on through each of us who are willing to pick up the baton of non-violence and use it as an instrument and to work together to build communal peace and harmony.

There are many actions that can be taken to move away from discord and anarchy and to move toward communal peace and harmony. In my opinion, the key actors and actions include:

* Religious leaders promoting interfaith dialogue

* Political leaders promoting a framework for unity

* Citizen leaders promoting communication and collaboration

There is much work to do. There is a role to play and a contribution to be made by all concerned citizens. 

Civil engagement

The key to progress is civic engagement. Civic engagement, as I view it, takes five primary forms:

* Individual engagement – being the best one can be and personally responsible for one’s actions

* Organizational engagement - contributing to the success of the groups (e.g., business, religion, associations) to which one belongs

* Political engagement– participating in those processes that shape the structure and nature of government

* Community engagement– collaborating to make the locale and the world in which we live a better place

* Social engagement– advocating for justice and equality of treatment and opportunity for all

I don’t know if Gandhi ever used the term civic engagement. I do know that without him, there would be no Republic Day for India, and without his influence and impact on others the United States and the world would be a far different place.

Mahatma Gandhi’s teachings and his approach to civic engagement are centered around ‘peace,’ ‘love’ and ‘non-violence.’ In the past few years, radical extremists have countered Mahatma Gandhi and his teaching and his preaching with acts of ‘war,’ ‘hate,’ and ‘violence.’ If they are successful, Republic Day in India and similar holidays in countries around the world that celebrate democracy will become a distant memory.

In the tradition of Mahatma Gandhi and his followers who came before us, I firmly believe we who understand and our commitment to the values of a free society can prevent that apocalyptic vision.

It is up to us. This is our responsibility in the years 2020 and going forward.

(The writer is an entrepreneur, civic and thought leader based in Washington DC. The views expressed are personal)

Source: https://southasiamonitor.org/

Read More........ → October 02, 2020