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BW Businessworld

Learn The Art Of Living With Corona Virus, Says Minister Nitin Gadkari

When discussing the implications of the Covid’19 on the MSME’s, and the governments aid towards them, the minister talked about how it was a “good decision to change the definition of the MSME’s” and how “liquidity is important for the market to function well.

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In an interview with LeadSpeak, Nitin Gadkari outlined how the government plans to deal with the situation along with  highlighting how imperative it is for everyone to have a positive attitude.

One of the key elements the minister reiterated several times was that this time is like no other, it is novel and “India needs to take advantage of it”. Breaking down the way forward for India in three steps, he went on to talk about how with “updated technology”, “reduction of imports”, and “an increment in the number of startups”, India can move on, and grow. Along with this, “increasing the exports and the attraction of Foreign Direct Investments (FDI)”, will equip the nation with the ability to become a better economy, and grow out of this crisis.

Another aspect discussed was that of biofuel. This is an issue the minister resonates with and feels very strongly about. He went on to showcase that round 500 distilleries have been employed for the production of ethanol. Giving a simple example of “aggarbatis” (incense sticks) and “plastic ice cream spoons”, he explained how products like these are being imported despite India having the capability to produce them. Drawing a parallel to that, the minister talked about how much fuel in being imported, and it is time for India to decrease imports and increase exports. Furthermore, he stated that the “government will support the startups”.

When discussing the implications of the Covid’19 on the MSME’s, and the governments aid towards them, the minister talked about how it was a “good decision to change the definition of the MSME’s” and how “liquidity is important for the market to function well. In addition to this, great emphasis was placed upon villages. Villagers will be the recipient of the “maximum concession”. Citing last years village turnover being “88,000 Crore”, the minister was highly optimistic of changing that number to “5 Lakh Crore in the next two years”. Notably, MSME’s contribute 29% to the total GDP.

Calling the virus a “blessing in disguise”, the minister reinforced how staying optimistic, and learning to live with the virus is important. “Lockdown is not the solution”, and this virus will have implications, and arise “psychological problems and increase fear among the citizens”, therefore being armed with a positive attitude and “self confidence” is imperative. This is a twofold war, on the level of battling the “corona virus”, and on an economic level”. To combat the virus, “masks, social distancing and sanitizers” are a must. The government will also be encouraging “more entrepreneurs to take up businesses in the ‘tribal, rural and agricultural sector’”.

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.


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Kavya Shah

The author is an intern with BW Businessworld

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