I am deeply saddened by the demise of Dr Manmohan Singh, the former Prime Minister of India, whose contribution to laying the foundations of Modern India is unparalleled.
The decade starting mid-1980s is often regarded as the most tumultuous period in Independent India’s history when the country was engulfed with several challenges across all fronts-domestic, economic, and geo-political. It is amidst such a challenging environment that an economist turned politician, Dr Manmohan Singh was at the helmofaffairsoftheReserveBankofIndia, the thePlanningCommissionandlater,assumedchargeastheFinance Minister in PM Rao’s cabinet. The Budget, the New Industrial Policy and the Foreign Trade Policy that Dr. Singh announced in 1991 are pathbreaking reforms in India’s economic history, that heralded the country’s transformation from a command and control based to a free-market economy and set the course for India and Indian company to participate in the globalization era.
Whilethe1991economicreformswerehisdefiningmoment, DrSingh’ssuccessivetermsasthePrimeMinister of India willberememberedforthehistoricUS-IndiaNucleardeal,setting-uptheUIDAIand subsequent launch ofAADHAR, the theMNREGAschemepromotingruralinfrastructure creation among others. With a distinction print of an outstanding economist, these initiatives had a wide-standing impact in attracting foreign investment, strengthening international trade and commerce, and promoting inclusive economic growth.
As a representative of the Indian Industry, I was fortunate to have had multiple opportunities to meet and interact withDrManmohanSinghincludingaspartofthedelegationsaccompanyinghimtoUnitedStatesandJapan. A man of remarkable integrity, Dr Singh was an attentive listener who spoke gently with profound impact.
TheworldwillrememberDrManmohanSinghasanoutstandingeconomist, an astute policy maker and a global statesman. He will be deeply missed, and his contributions will continue to inspire us for generations to come.
Mayhissoulrestinpeace.
– BabaKalyani,Chairman&MD,BharatForgeLtd.