ET Awards: Exciting air of entrepreneurship in India, says Times Group MD Vineet Jain
India is undergoing a transformation and there is an exciting air of entrepreneurship across its cities and towns, Times Group MD Vineet Jain said. Crediting the leadership of PM Narendra Modi and his ministers for giving wings to the dream of a New India, he said, “There is a can-do spirit among the young and the restless that will not be daunted by the size of the challenge or crushed by the fear of failure”.
Citing the World Bank’s Global Economic Outlook report that predicted India’s GDP to grow 6.3% this year, he said: “The numbers tell us that the government’s policies are working.” He lauded finance minister Nirmala Sitharaman for presenting a “beautifully balanced” budget that is not full of freebies even in a pre-election year.
The FM has not allowed herself to be distracted from the dharma of reforms, or the sanskar of doing what is right, and righteous, he said. ‘Make in India’, one of the key initiatives of the government, he said, is now a national imperative and taking shape, as indicated by higher foreign investment.
Also, the production-linked incentive scheme is set to spur manufacturing, he said. In enabling this, according to him, the finance minister’s 2019 decision to cut corporate tax to 15% for new manufacturing companies has played a big role.
“An agile and engaged government has walked many extra miles to keep the engines of the economy running through rough weather. Opting for higher Russian oil imports helped offset the impact of rising crude prices. The infrastructure push unveiled in this year’s budget is expected to drive capex in many sectors,” he added.
Raising a toast to the winners, he said: “To rise above the ordinary and to shine, every organisation needs a balance of talent and leadership. Our winners today reflect that.”
“In Amrit Kaal, don’t be limited by the constraints of our immediate past. This government is thinking and acting both locally and globally,” he said, adding: “If you need any inspiration, look no further than our G20 presidency theme, Vasudhaiva Kutumbakam. Rooted in our glorious history, it is an apt anthem for a new world order.”
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