Industries need to tap opportunities once Covid-19 gets over: Gadkari
Published: May 08, 2020
NEW DELHI, MAY 08, 2020: UNION Minister for MSME and Road Transport and Highways Mr Nitin Gadkari has said that industries should keep a positive outlook and tap the opportunities that may arise after COVID pandemic is over. He was addressing a webinar on "MSME and Infrastructure, Post COVID-19: Life of these two lifelines of the Indian Economy", organized today by Indore Management Association.
Mr Gadkari called upon the industry that it is needed to be ensured by industries that necessary preventive measures are taken to prevent the spread of COVID-19. He emphasized that organizations should ensure that their workers and executives are taken care of - by providing food, shelter and maintaining social distancing norms. He emphasized that industry should take a positive approach and tap the opportunities that will be created when the COVID-19 crisis gets over.
He stated that all the stakeholders must adopt an integrated approach to come over the crisis while ensuring the lives and livelihood of the people. Mr Gadkari also urged the industry to have a positive attitude during this time to tide over this crisis.
The Union Minister emphasized that special focus towards export enhancement is the need of the hour. Further, he mentioned that there is also need to focus on import substitution to replace imports with domestic production.
The Minister recalled that Government of Japan has offered special package to its industries for taking out Japanese investments from China and move elsewhere. He opined that it is an opportunity for India which should be grabbed.
Some of the major issues highlighted and the suggestions given included: Increasing provision of 10% of working capital limit as additional funds to 30%, relaxation in Companies Act so that liquidity can be arranged from social circle, benefit for labourers infected by COVID-19, relaxation in labour laws, relaxation in electricity bills during the lockdown, deferring GST and advance tax, introducing a scheme for COVID-19 similar to Voluntary Disclosure of Income scheme, etc.
Mr Gadkari responded to the questions from representatives and assured all possible help from the government. He informed that he would take up the issues with related departments.
