“The ‘vocal for local’ strategy of PM Modi can leapfrog India’s position in the global economic power order”: Shri SK Narvar, Chairman, Capital India Corp

“The ‘vocal for local’ strategy of PM Modi can leapfrog India’s position in the global economic power order”: Shri SK Narvar, Chairman, Capital India Corp

How does it feel as the national lockdown ends, and we move towards normal life?

India’s phased exit from COVID-19 lockdown has begun from today. It is a positive development at multiple levels. The move will reignite the country’s economic mechanisms. As people regain a semblance of normalcy, it will help them counter mental health issues. Benchmark indices have registered a significant surge as a result of this development. I see our world filling up with optimism and hope once again.

We should remember that our war against the novel coronavirus is still ongoing. We should be more vigilant than before in adhering to the physical distancing norms. Everybody should wear masks and continue to follow hygiene etiquettes in their day-to-day lives. It is our collective responsibility to bring this pandemic under control.

COVID-19 has taught a new way of life, how do you see Indian corporates adapting to the same going forward?

As we set out to revive the economy in the post-COVID-19 era, businesses should recalibrate their long-term goals to suit the new order. Companies must pursue the fundamental values of perseverance, integrity and sustainability to support robust recovery and deliver long-term value to stakeholders.

Herein, I would like to reiterate that even though a significant chunk of the economy is active now, there should be no laxity in our vigilance levels. Organisations which can function through remote work should continue to do so. We must learn to live in this new normal and adapt to it as best as we can. Corporate enterprises in various industries should capitalise technology more aggressively to strengthen our fight against the pandemic further.

How would you rate the government under PM Modi in handling this pandemic?

Our government under the leadership of PM Modi has put in place comprehensive and robust systems to check the spread of the pandemic during the early stages. These efforts made the massive surveillance and quarantine measures much more effective. As a result, India has one of the lowest rates of death worldwide. Also, the government demonstrated the highest level of political commitment to evacuate Indians stranded overseas, strengthening of health infrastructure, capacity building of over two million frontline human resources and risk communication and community involvement.

India’s approach to handling this pandemic has garnered worldwide praise. Global agencies such as the World Health Organisation have lauded the country’s timely and impressive measures to contain the pandemic. It is indeed a matter of great pride for the nation that our Union Minister for Health and Family Welfare, Dr. Harsh Vardhan, is leading the global fight against the pandemic as the Chairman of the WHO Executive Board.

Being Vocal about Local, what are your views on the same?

The resolve to boost domestic manufacturing through the vocal for local strategy is commendable. If implemented well, the policy can leapfrog India’s position in the global economic power order. It will strengthen the domestic economy by providing a unique identity to the MSMSE sector. It will help harness our country’s diversity which lays hidden in the numerous towns and villages.

I wish to congratulate our Hon’ble Prime Minister Shri Narendra Modi for giving us this slogan that will drive nationalism and give a fillip to local industry. I see India becoming a self-reliant and self-grown economic power in the near future.