MUMBAI: Larsen & Toubro Chairman AM Naik has said that India is fighting challenges at multiple fronts and it is time for the government and industry to act in unison for the national cause, at the company’s annual general meet on Thursday.
Addressing the shareholders, at its 75th AGM that was held virtually, he highlighted the need for creation of an ecosystem which drives growth.
Naik said that the strong anti-China sentiment in the country and around the world can possibly be a “game changer” for Indian industry, reiterating his view that he shared with ET in an interview in June.
“I am addressing you all at a time when the government and the country are fighting challenges on multiple fronts. The government is battling a global pandemic while simultaneously trying to re-build and revive the economy. Further, India faces an unexpected challenge as the result of friction on our northern borders. As always, your company stands with the nation and its leadership in this hour of need,” Naik said.
Naik has been at the forefront of demanding a level-playing field for Indian industry as compared with China for several years.
“To leverage these trends and harness them for productive purposes, we need to move beyond knee-jerk responses and draw up a long-term strategy with a time-bound plan for implementation,” he said.
Referring to Prime Minister Narendra Modi’s call for ‘Atmanirbhar Bharat,’ or self reliant India, he said that L&T has been actively moving towards this goal for years.
“Your company has all along been championing self-reliance in the key sectors of defence, nuclear power, space research, power and infrastructure. With ‘technology for sustainable growth’ as the central theme of our endeavours, we reiterate our commitment to rise to the occasion and contribute to the national cause,” Naik said.
Addressing the shareholders, at its 75th AGM that was held virtually, he highlighted the need for creation of an ecosystem which drives growth.
“Reforms are urgently needed in many sectors including land acquisition and labour. The financial system is also in urgent need of attention. In tandem, the administration would do well to streamline processes and accelerate the pace of decision making,” Naik said.
Naik said that the strong anti-China sentiment in the country and around the world can possibly be a “game changer” for Indian industry, reiterating his view that he shared with ET in an interview in June.
“I am addressing you all at a time when the government and the country are fighting challenges on multiple fronts. The government is battling a global pandemic while simultaneously trying to re-build and revive the economy. Further, India faces an unexpected challenge as the result of friction on our northern borders. As always, your company stands with the nation and its leadership in this hour of need,” Naik said.
Naik has been at the forefront of demanding a level-playing field for Indian industry as compared with China for several years.
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“To leverage these trends and harness them for productive purposes, we need to move beyond knee-jerk responses and draw up a long-term strategy with a time-bound plan for implementation,” he said.
Referring to Prime Minister Narendra Modi’s call for ‘Atmanirbhar Bharat,’ or self reliant India, he said that L&T has been actively moving towards this goal for years.
“Your company has all along been championing self-reliance in the key sectors of defence, nuclear power, space research, power and infrastructure. With ‘technology for sustainable growth’ as the central theme of our endeavours, we reiterate our commitment to rise to the occasion and contribute to the national cause,” Naik said.
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