India will be 3rd largest economy by end of decade, recent remarks "purely for constructive purpose" clarifies Godrej Chairman

New Delhi [India], September 7 (ANI): Clarifying some of his comments made recently to the media, industrialist Nadir Godrej said that there were instances like the GST council where the government undertook "excellent initiatives" that gave voice to diverse voices.

In an earlier media report, Nadir Godrej said, "I think we need to try and unify the country and stop dividing the country. I think that is important and I am sure the government also recognises the economic growth requires that."

When asked by ANI in an email questionnaire to clarify these remarks, Godrej said that any comment that he made was "purely for a constructive purpose." "There are clear indications that enabling the education and participation of women and disadvantaged groups helps social and economic development. Taking all opinions on board makes for good governance. The GST council is an excellent initiative of this government for giving a voice to diverse views. Indeed GST has helped the economy tremendously and a good process is underway for further improvement. A good feedback mechanism is very beneficial for good governance in business and government," added the Godrej Industries Chairman Nadir Godrej.

When asked about projections that had a positive outlook on India's economic growth rate despite the Russia-Ukraine war and rising global inflation, Godrej added that the Indian economy "is growing fast and very clearly, this will last." In fact, in the written response received by ANI, Godrej penned down his thoughts in the form of a poem, which is as follows:

"There are problems in the world,

Each year more are unfurled,

Climate change has been there.

The pandemic brought its share.

Inequality is very dire

And maybe getting even higher.

And since the Russia-Ukraine War

The World has had to then endure

An unexpected commodity boom

All these dangers constantly loom.

Some countries succumbed to all this flack.

But we are on a better track!

And as commodity prices decline

Our inflation numbers should be fine.

We already know we will survive.

And now there's hope we will thrive.

Our economy is growing fast

And very clearly, this will last."

Asked to respond on the latest report about India surpassing the United Kingdom to become the world's fifth largest economy, Godrej added that he expected India to reach the third spot by the end of the decade.

"India currently has a large population and the fastest rate of growth of any economy. It is but natural that we rise in the rankings of total GDP. Before the end of the decade we should be the third largest economy. A more important goal is to eliminate poverty and malnutrition. A lot of good work has already been done by the Government and the building blocks are in place," said the Billionaire Nadir Godrej in response to an email questionnaire sent by ANI.

Asked to comment on the recent tragic death of Former Tata Sons Chairman Cyrus Mistry, Godrej said that is was "indeed a big loss and sadly, an unnecessary loss."

"I worked closely with him on the board of Indian Hotels. He had a very analytical mind and made a great contribution to Indian Industry. Indeed it is a big loss and a sadly unnecessary loss. We now need to wake up and take up the cause of road and industrial safety as well as the prevention of life style and infectious diseases. Prevention is always better than cure," said Godrej.

The multi Billion dollar Godrej conglomerate has diversified interests across various countries. It has been reported by various media outlets that the Godrej family is in the process of splitting up their vast business empire which is helmed by Adi Godrej, whereas, Nadir Godrej is currently Chairman of Godrej Industries and Godrej Agrovet. (ANI)

Source: Business