Such companies should be asked to source raw material from the domestic market, export products made in India and contribute to the country’s foreign exchange earnings, and not be allowed to send all their royalty to their home countries, SJM co-convenor Ashwani Mahajan said.
He said the PM’s call for self-reliance is a vindication of his organisation’s three-decade-long struggle to see India become economically independent. “The PM’s call to be vocal for local will have strong resonance. The PM’s appeal has a large reach, and it will strengthen indigenous and local brands among the consumers to ultimately become global brands. The constant endorsement of PM Modi would help these entrepreneurs get more respect and acceptance globally,” Mahajan said.
He lauded the relief measures and opportunities announced for small retailers and entrepreneurs, micro enterprises, other businesses, farmers and tax payers.
Mahajan said that while multinationals should be welcomed as part of the PM’s efforts to create plug-and-play infrastructure.
“Till now we have not put any conditions for these companies. In the past, their import content of raw materials has been high (automobile sector being one example),” Mahajan told ET, adding that they should be asked to source raw material from the Indian market.
Download The Economic Times News App to get Daily Market Updates & Live Business News.
5 Comments on this Story
Ravindran Subramanyam258 days ago
The stand of SJM may be appropriate. However, when Hindus were repeatedly attacked by bloodthirsty muslim community mobs in Shaheen Bagh, North East Delhi, West Bengal and Jharkhand where were the cowards of Bajrang dal and VHP?? Why they could not unite the Hindus to counterattack ?? Why they could not motivate the hindu policemen to proactively protect the hindus?? How did the VHP and Bajrangdal tolerate the atrocities against doctors and nurses by the violent Tablighi jamaat muslim bioterrorists and superspreaders??? Why they could not prevail upon the home minister Amit Shah to take stern action against such violence against Hindus? Has the hindu organisations have it in them to protect Hindus as the police is largely ineffective?? Otherwise they can all wear Bangles and saris and retire to Himalayas!!!!!!!
crusoe rob258 days ago
When muslims were rampaging around the country, where were these hindu organisations like VHP and RSS. Bl**dy cowards. Were they muzzled by the BJP. Dont they know, sometimes you need to take offence. We have become cowards.
Devidas Telakat258 days ago
India can consider moving out of WTO. I call it a Wealth Terror Organisation.The wait for three years for compulsory licensing of a patent is loaded heavily in favour of developed nations.India may have to find another way of incentivising inventions and discoveries. Rishi Rina requires knowledge to be shared freely.