India Inc hails Modi's praise for private sector

New Delhi: Industry leaders Anand Mahindra and Sajjan Jindal on Thursday said India Inc will have to live up to the expectations after Prime Minister Narendra Modi showered praises on the private sector for its role in India's growth, national progress and enhancing the country's prestige globally.

Mahindra and Jindal took Modi's words as a great encouragement for the "community that has been creating wealth and jobs in the country".

"Welcome words of encouragement at a fragile time for private enterprise due to the pandemic. Now we have to live up to the expectations, both in performance & governance," Mahindra Group Chairman Anand Mahindra tweeted. Mahindra was responding to the remarks of Modi, who, on Wednesday during his reply in the Lok Sabha to the discussion on the motion of thanks to the President's address, stated that the public sector is essential but at the same time, the role of the private sector is also vital. Pitching for private enterprises, Modi had said there should be faith in the abilities of India's young population and everyone should get opportunities.

The Prime Minister had cited the examples of telecom and pharma sectors to note as to how the robust presence of private firms in these fields has helped people, with even the poor using smartphones, and mobile calls costing virtually nothing due to competitiveness.

Similarly, JSW Group Chairman and MD Sajjan Jindal tweeted, "For the first time ever, a prime minister of our country has publicly shared his respect for the Indian entrepreneurs. This is great encouragement for the community that has been creating wealth and jobs in the country." Modi had said India is proud of the role of the private sector in national progress and in enhancing India's prestige globally.