AP Chambers condoles demise of Manmohan Singh

The Andhra Pradesh Chambers of Commerce and Industry Federation (AP Chambers) mourned the passing away of former Prime Minister Dr Manmohan Singh, a visionary leader, a towering statesman, and the architect of India’s economic liberalisation, said president of AP Chambers Potluri Bhaskara Rao and general secretary B Rajasekhar in a statement here on Friday.

They said that Dr Singh’s transformative economic reforms during his tenure as Finance Minister in 1991 were pivotal in steering India out of a severe financial crisis. His bold initiatives dismantled the Licence Raj, opening the Indian economy to global investment and trade. This ushered in an era of economic liberalisation and industrial growth, which empowered businesses to innovate, compete, and expand globally. His policy measures fostered the development of key industrial sectors, including IT, manufacturing, and financial services, creating jobs and driving sustainable economic growth.

Under his vision, the focus on industrial deregulation and infrastructure development catalysed the modernisation of India’s economic framework. Potluri Bhaskara Rao and B Raja Sekhar expressed their deepest condolences to Dr Singh’s family and the entire nation.