New Delhi: The industry must exercise restraint in seeking relief measures from the government, as government finances remain constrained amid the current Covid-19 crisis, Union minister for road transport and highways and MSMEs Nitin Gadkari has said.
The government is facing a financial crisis amid the Covid-19 outbreak, while banks are also struggling for survival, and the industry must therefore consider these facts before making demands to the government, he said in a discussion with members of the PHD chambers of commerce on Wednesday.
He added that we must find an equilibrium in coming up with relief measures for all stakeholders.
“Aapki industry jaise sankat mein hai, waise sarkar bhi financial crisis mein hai ( Just as how the industry is facing problems, the government is facing financial crisis),” Gadkari said.
“Banks ki sthiti bhi aaj survival ke liye bohot challenging hai, aap jaante hain (You are aware that even banks are facing challenges for survival),” he added.
“”Keeping all this in mind, you have to see where the breaking point lies here, (and) how do we maintain this equilibrium, so we all can survive,”Gadkari said. The government will try and resolve as many issues of the industry as possible, he said.
Reiterating his stance that the outbreak of Covid-19 should be seen as a blessing in disguise, the industry must look at reducing the cost of production to make its products competitive.
“We should learn from China which has reduced its production cost to capture the global market,”he said.
“We will have to fight an economic war after the war with Corona (virus) is over,”he said. “This is an opportunity for us. If countries withdraw from China, it’s to India’s biggest advantage,”Gadkari added.