S Jaishankar stresses self-reliance as crucial for India's growth at FICCI AGM

Emphasising the significance of self-reliance, External Affairs Minister S Jaishankar highlighted its pivotal role in a large economy like India.

Speaking at the 96th Annual General Meeting (AGM) of the Federation of Indian Chambers of Commerce and Industry (FICCI), Jaishankar underscored the importance of businesses as the driving force behind India's advancement and urged business leaders to contribute to developing domestic supply chains.

Jaishankar articulated the paramountcy of self-reliance, particularly for a nation of India's size and aspirations.

He emphasised that while international trade remains important and global supply chains are acknowledged, fostering Indian supply chains and supporting domestic vendors are crucial for a nation's strength and prosperity.

Addressing the gathering, Jaishankar stated, "No country will be strong without its supply chain and basic requirements. For a nation like India, with its immense ambitions and future prospects, being 'Aatmanirbhar' is exceedingly significant."

He expanded on the broader role of businesses, portraying them as leaders of progress and modernity within the country. He attributed the evolution of the economy, industries, services, and technology propagation to the ideas, concepts, and mindsets crafted by the business community, branding it as the engine for India's progress.

Asserting the need to focus on self-reliance, he urged businesses to contribute to building substantial strengths within India. He accentuated the responsibility of business leaders in contributing to national strength, emphasising the importance of cultivating deep-rooted strengths domestically, drawing parallels with successful economies that have prioritised self-reliance.

Jaishankar's address at the FICCI AGM echoed the collective objective of building robust domestic foundations while acknowledging the imperative role of businesses in propelling India's growth and self-sufficiency.