Home / Knowledge / News / Domestic entrepreneurship helps to drive India's growth
Domestic entrepreneurship helps to drive India's growth
Jan '08
Shri Kamal Nath, Union Minister of Commerce and Industry, has stated that the economic reforms in India has been largely responsible for transforming India's private sector and the growth is being driven by many companies that were set up in the nineties.

New sectors such as IT and communications, and modernised old sectors such as the automobiles and pharmaceuticals are the new torchbearers, he added while addressing the Global Challengers Session at Davos.

The Minister observed that the increased openness has contributed significantly to the growing confidence of Indian firms and the scrapping of controls on expansion has allowed many Indian firms to aspire for global economies of scale for the first time.

Among others, the meeting was also attended by Mr. Rahul Bajaj and leading Global CEO's. During the course of interaction with the participants, Shri Kamal Nath stressed that Indian globalisation is synonymous with Indian entrepreneurship and the domestic entrepreneurship is the engine that is driving India's growth. Indian companies are seizing the opportunities presented by new technologies and a more open economy.

"Today, thanks to its innovative and entrepreneurial culture India is emerging as a hub for new software platforms, new technology development, engineering design and hi-end outsourcing", he added.

The Minister further referred to the process of globalisation in India that has also resulted in important shiftsin the mindsets and added that in the past, because of the restrictive economic environment, the top management in India tended to be in their comfort zones and steeped in their own cultures.

Must ReadView All

Textiles | On 16th Jan 2017

India’s WPI inflation rises to 3.39% in December 2016

India’s annual rate of inflation, based on monthly wholesale price...

Apparel/Garments | On 16th Jan 2017

EC proposes enhanced market access for Sri Lanka

The European Commission (EC) has proposed that a significant part of...

Textiles | On 16th Jan 2017

Producing contamination free cotton biggest task: CCI

Producing contamination free cotton is the biggest task for the...

Interviews View All

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search