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PM Modi: Culture of abusing private sector no longer accepted | India Business News

NEW DELHI: The role of India’s private sector is as crucial as that of its public sector, Prime Minister Narendra Modi said on Wednesday.
In his reply to the motion of thanks on the President’s address in Lok Sabha, the Prime Minister emphasised on the need to give importance to the role of private sector which served humanity selflessly during the ongoing Covid-19 pandemic.
“The culture of abusing the private sector is not acceptable any longer. We cannot keep insulting our youth like this,” PM said.
Modi also highlighted that a country progresses only when each and every sector collaborates and contributes to its growth.
Taking the example of how private participation in mobile manufacturing in the country got a boost as part of the Centre’s vocal for local initiative, Modi said that today even a poor person owns a smartphone.
He also highlighted the role of private players in telecom as a result of which call and data rates have reduced significantly.
PM Modi also praised the role of private enterprises in developing made-in-India Covid-19 vaccines and facilitating one of the biggest vaccination drives of the world.
“To use improper words against the private sector may have got votes for a few people in the past but those times are gone,” PM stated.
On farm laws, the Prime Minister noted that the kind of investment farming needs has not been happening. He said that there is a need to bring investment and modernise agriculture to empower the sector.
Referring to the Covid-19 pandemic, Modi said India has managed the crisis successfully despite adverse predictions and the country has now become a ray of hope for the world.
He noted that the reforms introduced by the government since Day 1 of the pandemic has helped India’s economy to recover at a rapid pace.

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