Union Minister Nitin Gadkari heard the concerns of the industry leaders and responded to some of their questions during this segment of India Today’s e-Conclave Jumpstart India series.
Participants of the e-Conclave Jumpstart India Series on May 17 (Photo Credits: IndiaToday)
- We should work from survival to revival: Ritesh Agarwal
- Demand in aviation has dropped to zero: Ajay Singh
- Need to maintain equilibrium among all stakeholders: Nitin Gadkari
India Today’s e-Conclave Jumpstart India series bore witness to a unique interaction between industry leaders and a top minister in the government of India. During the conversation, industry leaders voiced their concerns before Union Minister for Roadways, Shipping and MSMEs Nitin Gadkari.
Among the industry leaders who were part of this interaction was MD of Mahindra and Mahindra Pawan Goenka, Chairman and MD of SpiceJet Ajay Singh, Co-founder and MD of the Hiranandani Group, Niranjan Hiranandani, and Oyo Rooms founder and CEO Ritesh Agarwal.
Minister Nitin Gadkari, in his opening remarks, said that increasing liquidity and increasing demand are the two single most important things that have to be kept in mind to ensure a successful revival of the Indian economy. “There is a need to push Rs 50 lakh crore in the market. This money does not sit at one place and its movement throughout the market will create demand,” Gadkari said. He also said that India must now learn “the art of living with corona”.
The Centre should consider a partial GST exemption for some months, suggested Niranjan Hiranandani, Co-founder and Managing Director of the Hiranandani Group. In response, Minister Nitin Gadkari said that GST now accounts for a large portion of the state’s revenue and is much needed in this time of crisis. Hiranandani also urged the minister to stop migrant workers from walking on the roads, to allow hair cutting salons to function with only one customer at a time and to effectively use national highways to increase employment.
Managing Director of Mahindra and Mahindra, Pawan Goenka requested Minister Nitin Gadkari to consider treating automobile dealers as MSMEs. The minister responded by saying that stakeholders across the spectrum are affected by this crisis and there is a need to maintain equilibrium among all stakeholders.
“The demand in aviation has dropped to zero. If the government can give aviation players a level playing field in terms of taxation, we can compete with middle-eastern carriers,” Chairman and Managing Director of SpiceJet, Ajay Singh told Nitin Gadkari. The minister responded by saying that the Union government is aware of the liabilities and problems of the aviation sector and he would communicate the concerns to the Finance Minister. Ajay Singh also suggested that private airlines should be encouraged to expand on the domestic market in India.
Founder and Chief Executive Officer (CEO) of Oyo Rooms, Ritesh Agarwal brought to the minister’s attention that the hospitality sector is leaving no stone unturned in helping out authorities. He also requested Nitin Gadkari to consider treating small hotel owners and start-ups as MSMEs. “We should work from survival to revival and not let this crisis go to waste,” Ritesh Agarwal said. Nitin Gadkari responded by saying that the hospitality sector employs a large number of women and its concerns will be seriously considered.