Prime Minister Narendra Modi's recent interview with the India Today Group has sparked a positive reaction among Indian business leaders. In the interview, Modi expressed his firm support for entrepreneurs and wealth creators, emphasizing their role in the country's economic growth. This stance has been met with widespread approval from various industry leaders.
Applauding Modi's Support for Entrepreneurs
Business leaders across sectors have echoed Modi's views on the importance of celebrating wealth creators. They acknowledge the crucial role that entrepreneurs play in job creation, innovation, and overall economic development.
Industry Leaders Voice Their Agreement
Piramal Group chairman Ajay Piramal highlighted the significance of entrepreneurs in driving economic progress. He commended PM Modi's vision for a robust entrepreneurial ecosystem, emphasizing its contribution to job creation and social well-being.
Abhinandan Lodha, Chairman of The House of Abhinandan Lodha, emphasized the multiplier effect of wealth creation, leading to new industries, job opportunities, and innovation. He strongly endorsed the PM's statement advocating for celebrating achievers.
Krishnan Ganesh, a serial entrepreneur behind ventures like BigBasket and Bluestone, expressed his firm support for Modi's comments. He underscored the importance of celebrating wealth creators in fostering a culture of innovation and risk-taking, vital for sustainable economic growth. He further elaborated on the positive impact this has on tax revenue, poverty reduction, and achieving self-reliance (Atmanirbhar Bharat).
Manisha Girotra, CEO of Moelis & Company, emphasized the necessity of a strong government-private sector partnership for India to reach its $10 trillion economy goal. She lauded the PM's recognition of wealth creators' contributions to employment, technological advancements, and overall wealth creation.
Leading tax expert Dinesh Kanabar also commended the PM's stance. He acknowledged the perception that Modi had not openly acknowledged the contributions of wealth creators. He highlighted the immense foreign investments driven by these individuals in various sectors, forming the backbone of India's growth. He welcomed this open acknowledgment by the PM and called for the removal of hurdles like Angel Tax to further promote wealth creation.
Looking Ahead: Fostering a Supportive Environment
While Modi's endorsement has been met with positive sentiment, some business leaders have expressed hopes for concrete actions. Krishnan Ganesh, for example, mentioned the need to address long-standing issues faced by startups and entrepreneurs, such as Angel Tax, disputes with the IT department, and challenges with GST accounting.
Overall, Prime Minister Modi's vocal support for entrepreneurs and wealth creators has been well-received by Indian business leaders. They acknowledge the significance of celebrating these individuals and believe it will pave the way for a stronger Indian economy. Moving forward, it will be interesting to see if the government implements specific policies to address the concerns raised by some and further nurture a supportive environment for entrepreneurship and wealth creation in India.
