Lakshmana Venkat Kuchi
India Inc on Friday pledged its full support to the government’s efforts to build India as a self-reliant economic powerhouse and as a global manufacturing hub.
The two major chambers – the Confederation of Indian Industry (CII) and Federation of Indian Chamber of Commerce and Industry (FICCI) — lauded Prime Minister Narendra’s Modi’s Independence Day speech detailing the government’s steps to strengthen the industry, increase livelihood opportunities, and improve the ease of doing business further to accelerate the Atmanirbhar Bharat Mission.
In a statement, FICCI President Vardhan Agarwal, welcomed the comprehensive review of GST promised by the Prime Minister said that this would reduce commitment to reduce compliances, eliminate redundant regulations and create a dedicated reform Task Force to strengthen India’s position as a global manufacturing hub.
Endorsing the PM’ vision of producing world-class quality products at competitive costs, the FICCI president said “the industry assures its commitment in realising this goal.”
The other chamber, CII, said the PM’s address at the Red Fort reflected his commitment to empowering India’s youth, strengthening MSMEs, and accelerating the Atmanirbhar Bharat Mission.
In a statement, Chandrajit Banerjee, Director General, CII, said, “The milestone INR 1 lakh crore youth empowerment initiative of the PM-Viksit Bharat Rozgar Yojana, with its INR 15,000 support for first-time job seekers, has the potential to create large-scale employment opportunities, enhance skills, and open pathways for sustained livelihoods. MSMEs, as the backbone of India’s economy, stand to gain significantly from these measures. Increased access to talent, targeted incentives, and a stronger domestic manufacturing ecosystem will enable them to scale, innovate, and integrate more deeply into global value chains.”
His emphasis on indigenous capabilities, whether in high-tech sectors like semiconductors, defence systems such as the Sudarshan Chakra Mission, or renewable and energy self-reliance, reinforces the Atmanirbhar Bharat vision, the CII official said.
Furthermore, the success of Operation Sindoor reflects India’s growing defence capabilities and underscores the imperative of safeguarding national and economic security through enhanced indigenous systems, accelerated development of advanced military technologies, and self-reliance in critical defence infrastructure and supply chains.
CII is committed to supporting this journey by fostering entrepreneurship, facilitating market linkages for MSMEs, and enabling the skills and infrastructure needed for a truly self-sustaining economy, Banerjee added.
