Vice President says Economic Nationalism is fundamental to our economic growth and import should be only for essential items
Need to be 'Vocal for Local'; it reflects the
essence of ‘Swadeshi Andolan’- VP
Vice-President cautions against export of raw materials without value addition,
calls it ‘painful for the nation’
VP urges corporate leaders to ‘fuel, finance, promote, sustain’ research and
development in the country
Vice President addresses the Bharat Startup and MSMEs Summit in New Delhi today
The
Vice President of India, Jagdeep Dhankhar today drew attention of trade and
industry bodies to the “ill-effects of not subscribing to economic
nationalism”.
Terming
economic nationalism as “quintessentially fundamental to our economic growth”,
the Vice President called for importing only that which is “unavoidably
essential”, to prevent the drain of India’s foreign exchange, loss of
employment opportunities for citizens and impediments in growth of
entrepreneurship.
Highlighting the
need to be “Vocal for Local”, the Vice-President said that this spirit was a
facet of ‘Aatmanirbhar Bharat’, and reflected the essence of the ‘Swadeshi
Andolan’ during India’s freedom struggle. Addressing the Bharat Startup and
MSMEs Summit at Dr Ambedkar International Centre in New Delhi today, he lauded
the effective performance of India’s MSME sector, and noted that it was
“bringing about transformational change in tier 2 & 3 cities and in
villages.”
Underlining how “affirmative governance coupled with ease of
business policies and initiatives have helped in flourishing of
entrepreneurship and spirit of innovation” in the country, the Vice President
called for hand-holding entrepreneurs to help optimise their performance. He
also emphasised how startups and MSMEs play a key role in ensuring a
“plateau-type” rise for a democratic nation like India, so that all segments of
society are uplifted equitably.
Cautioning against the export of raw materials without value
addition, Dhankhar stated that the twin advantages of job creation and rise of
entrepreneurship within the country that flow from such value addition should
not be sacrificed for the apparent ease of revenue it provided. “That money may
be easy for the individual, but it is very painful for the nation,” he
underscored. “By adding real value, we can contribute greatly to the national
economy,” the Vice President further added.
Appealing to corporate leaders to engage with research and
development in the country, the Vice President noted that “world over, research
and development is fuelled, financed, promoted and sustained by industries, but
we lack it here.” Urging corporates to “take a big step in that direction”, he
said, “While it is good to provide financial assistance to universities
outside, it is also important to bestow attention on local universities and
academic institutions.”
Sanjeev Agrawal, President, PHDCCI, Hemant Jain, Sr Vice
President, PHDCCI and other dignitaries were also present on the occasion.