Today morning I was surprised to read the reports appearing in the Media of my speech delivered yesterday, at the “Make in India” workshop. What is reported is a speech that I did not deliver. The reports indicated that I had spoken on the Reserve Bank, its Governor and voiced differences with them. The fact is that there was not a single sentence reference (not even a word) in my entire speech on either the Reserve Bank or its Governor.
Since the subject of the workshop was to develop India into a manufacturing hub, I had made several suggestions, which would enable India to improve its manufacturing capabilities. The key point that I made was that our manufacturing has to be cost and quality competitive. I suggested various steps, which were essential to achieve that. One of the many points that I made was that the cost of capital has to be cut down. Any one speaking on the subject of ‘Make in India’ into a manufacturing hub would necessarily suggest this.
The report of this speech in several sections of the Media convinces me that in the competitive world of journalism, reporters are always looking for an “angle”. Where none exists, the speech itself can be twisted to create one. My full speech is available at https://www.facebook.com/ArunJaitley. It is for the readers/viewers to decide the difference between my speech and the reporting in the newspapers.