Naidu calls upon nations to repatriate absconding economic offenders

Vice President of India M Venkaiah Naidu is addressing a gathering in Tirupathi - File Photo

The Vice President, Venkaiah Naidu today called upon all nations to ensure that economic offenders who abscond to other countries are immediately repatriated back to the countries where they are wanted. He said that system should be tough with the people who loot public money and seek safe havens abroad.


Interacting with the industrial and trade fraternity of South Gujarat at an event organised by the South Gujarat Chamber of Commerce & Industry in Surat today, the Vice President appealed to the industry to isolate such black sheep who bring a bad name to the entire business community and emphasised the need for ethical corporate governance in the country.

Urging the governments to resist the temptation of populist policies, the Vice President wanted them to focus on creating the right infrastructure, facilities and ecosystem for the people and the businesses to grow without impediments. He stressed that wealth needs to be created before it can be distributed and called for giving due respect for wealth creators. “Entrepreneurship should be appreciated and not envied”, he said

On this occasion, the Vice President also said that the push for an “Atmanirbhar Bharat” presents a huge opportunity to Indian businesses and called upon them to rise to the occasion and replicate the PPE kit success story in other sectors as well.

During the discussion, he highlighted the fact that before lockdown, India had a negligible production capacity of PPE kits and face masks like N-95, but within a short span of time, we have emerged as the second-largest producer of PPE kits. “We are not only meeting our own demand today but also exporting these essential items to several countries”, he said.

Describing the ‘AtmaNirbhar Bharat Abhiyan’ as one of the important lessons imparted by the Covid-19 pandemic, the Vice President said that the larger part of the Indian economy cannot remain forever dependent on foreign supplies. Such dependence makes us vulnerable to any blockage or disruption in the global supply chain, he cautioned.

Referring to the huge fall in the consumer prices of essential items like PPE kits, Naidu said that the pandemic has also taught us that we can lower the costs if we develop capacities to produce such goods within our country. This will not only benefit our consumers but also save our precious foreign exchange required to procure these goods from global markets, he said underlining the need for self-sufficiency in key areas of healthcare, defence, energy and infrastructure.

Recalling India’s healthy pace of economic growth during pre-Covid times, the Vice President noted with optimism the projected growth rate of 11.5 per cent in this year’s Budget. “This rate can doubtless be considered as the highest among the larger economies of the world”, he said.

He reminded the audience of India’s rich tradition of trade and commerce and said that we can certainly regain that past glory and make India an ‘Sonekichidiya’ once again.

On this occasion, the Vice President also praised the role being played by the private sector in fighting the Covid-19 pandemic. “We are not only vaccinating our huge population but also providing free doses of domestically developed Covid-19 vaccines to many poor nations”, he pointed out.

Observing that in this age of intense competition, the future will belong to those nations which have an edge in technological evolution, Naidu stressed the need to constantly keep upgrading one’s skill sets. “We will have to innovate and invent”, he said and appealed to the private sector to increase its spending on R&D. He also called for earmarking CSR funds to promote research in academic institutions.

Gujarat Minister, Ishwar Parmar, Members of Parliament CR Patil, Darshana Jardosh, SGCCI Chairman, Dinesh Navadiya and others were present during the event.