Addressing the Madras Chamber of Commerce and Industry in a function at Chennai today (September 8, 2012), the President urged businessman not to listen to the self-styled Cassandras of doom. He said that though there have many difficult periods in the past, India has overcome them through collective efforts. He said that India has a huge market. A domestic demand driven strategy may be appropriate at this time. He said that there is no point in merely lamenting and spreading negative sentiments, as it would not help solve problems. No country can live in isolation. Sometimes, domestic solutions alone are not enough. In the short term, problems may appear difficult and insurmountable. However, if we can focus on the long term, we have nothing to worry, he stated. Our history of economic growth gives us confidence. He said that every problem could be solved through determination, application of mind and hard work.

The President urged the members of the 176 year old MCCI to instill confidence amongst themselves and also to spread it around the country.

This release issued at 2115 hrs