New Delhi, August 15: The industry organization Assocham has stated that Prime Minister Narendra Modi’s vision for India’s development, presented on Independence Day, has instilled new confidence among the Indian business community. The organization believes that the emphasis on self-reliance, ‘Vocal for Local’, domestic manufacturing, and strengthening strategic capabilities is crucial for the country’s economic resilience and long-term growth.
Assocham President Nirmal Kumar Minda praised the Prime Minister’s goal of transforming India into a developed nation by 2047. He noted that the proposed ‘Sapt Dhara’ vision framework offers a comprehensive roadmap for inclusive, sustainable, and rapid economic development. According to him, this approach will aid the nation in advancing towards multidimensional growth.
Minda highlighted the government’s focus on critical minerals, semiconductor manufacturing, and reducing import dependence as very positive steps. He believes that increasing self-reliance in these sectors will bolster India’s strategic and industrial capabilities. He also welcomed the Prime Minister’s announcement of achieving 200 gigawatts of nuclear energy capacity and establishing five new nuclear reactors. He stated that these initiatives are vital for ensuring long-term energy security and providing reliable and affordable energy to industries.
The Assocham President particularly commended the plan to offer free online coaching for youth and skill training in artificial intelligence (AI) for one crore young individuals. He emphasized that India’s greatest strength lies in its young population, and equipping them with skills in emerging technologies will enhance productivity, employment potential, and innovation.
He noted that the Prime Minister’s call to include 50 Indian companies in the Fortune Global 500 list and elevate an Indian bank among the top five globally sends a significant message towards developing competitive Indian companies on the world stage. However, achieving this will require continuous improvements in innovation, scaling up, access to capital, and ease of doing business.
Assocham also welcomed the emphasis on free trade agreements (FTAs), global trade, deep-sea exploration, and enhancing India’s presence in strategic sectors. The organization believes that access to new markets and stronger integration into global value chains will create new opportunities for Indian industries, MSMEs, and exporters.
Minda specifically praised the Prime Minister’s call to modernize outdated and irrelevant laws, accelerate economic growth, and enhance efficiency, accountability, and commitment in work culture. He stated that such reforms will provide a strong foundation for making India a more competitive, innovation-driven, and investment-friendly economy.
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