OPEN APP
Home >Companies >News >‘Anti-China sentiment a game changer for India Inc’

MUMBAI : The strong anti-China sentiment within India and around the world is a possible game changer for India’s domestic industry, A.M. Naik, group chairman, Larsen and Toubro Ltd(L&T), told shareholders at its annual general meeting held on Thursday.

“To leverage the trends and harness them for productive purposes, we need to move beyond knee-jerk responses and draw up a long-term strategy with a time-bound plan for implementation," he said.

“It is essential that an enabling ecosystem for growth is created and reforms are urgently needed in land acquisition and labour. In tandem, the administration would do well to streamline processes and accelerate the pace of decision making."

Naik said L&T has been championing self-reliance in the key sectors of defence, nuclear power, space research, power and infrastructure. “This is an opportune moment for the government and the industry to act in unison and advance national interests."

During the covid-related lockdown, Naik said L&T spent 500 crore per month of the lockdown to ensure that the construction firm’s 160,000 contract workmen at project sites received good care, by continuing to pay their wages, provide food, shelter and medical assistance.

“Further, our construction business has converted hospitals to covid care centres at six locations around the country. Our smart solutions helped civic authorities in different cities monitor crowds and alert authorities. The company’s public-spirited initiatives have been appreciated by various state governments," he added.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout