President FIEO Sharad Kumar Saraf hails PM's announcement

Welcoming the Prime Minister’s address to nation, Sharad Kumar Saraf, President, FIEO said the initiatives mentioned by the Prime Minister heralds the arrival of New India.

According to statement, President FIEO said the Prime Minister sensed opportunity in this adversity and is looking into path breaking reforms to unshackle the economy to reap demographic dividends.

“The increasing localisation is a fall out of Covid-19 across the globe but this will make market access for exports more difficult. However, if we can integrate into the global value chain, we are up for a quantum jump in exports,” said President FIEO.

“The stimulus package should address both supply and demand side challenges emanating from Corona,” said Saraf.

“The credit availability at soft interest rates, reduced tax rates, infrastructure development would help the manufacturing to start the process from local to global.”

President FIEO said that opportunities of investment are knocking at our doors and the PM announcement has opened the door further.

“We hope States provide ease of doing business to realise this. If we miss the bus now, we will miss it for all time to come.”