: PM interacts with industry representatives on prevailing situation in country due to COVID19 outbreak #FinanceIndia #StockMarketNEWS PM interacts with industry representatives on prevailing situation

@StockMarketNEWS Wed 25 Mar, 2020

Posted in: #FinanceIndia #StockMarketNEWS

PM interacts with industry representatives on prevailing situation in country due to COVID19 outbreak #FinanceIndia #StockMarketNEWS
PM interacts with industry representatives on prevailing situation in country due to COVID-19 outbreak New Delhi, Mar 24 (KNN) Prime Minister Narendra Modi has interacted with industry representatives through video conferencing on the prevailing situation in the country due to coronavirus pandemic.

Representatives from industry chambers across the country took part in the video conferencing, said an official statement on Monday.

Principal Secretary, Cabinet Secretary and Secretary, Department for Promotion of Industry and Internal Trade (DPIIT) also participated in the interaction.

Discussion were held on the issues being faced by sectors like banking, finance, hospitality, tourism, infrastructure and requested for help to overcome these challenges through financial and fiscal assistance. Industry representatives also appreciated the importance of instituting a lockdown, irrespective of economic losses, to prevent the spread of the virus, an official statement said.

While speaking to representatives, Prime Minister said that while the government was working on giving fillip to the pace of growth in the country, an unforeseen hurdle in the form of COVID-19 came in front of the economy.

He said that the challenge posed by the pandemic is graver than even that posed by the World Wars and we need to be on constant vigil to prevent its spread.

Several sectors like tourism, construction, hospitality and daily life engagements including the informal sector have been hit due to COVID-19, the Prime Minister noted.

The impact on the economy will be felt for some time to come, he said.

The industry representatives thanked the Prime Minister for leading from the front and taking swift, front-footed action to counter the threat. They informed the Prime Minister about the steps being taken by them to maintain supply lines of essential items and medical equipment including ventilators, assistance in creation of isolation wards, utilization of CSR funds for combating COVID-19 and provision of assistance to migrant labour.

Modi urged the industry representatives to allow employees to work from home wherever doing so is feasible through using technology. He also exhorted them to adopt a humanitarian approach and not to cut down on workforce in spite of the negative impact on their businesses.