The government’s initiatives like ‘Aatmanirbhar Bharat’ and ‘Make in India’ will provide a strong boost to the industry and are expected to yield results in the next 5-7 years, a senior Mahindra Group official said on Friday.

“The world has changed a lot, more so in the last couple of years and that in today’s world it has become more important to focus on purpose, which has remained a key driver to profits,” Anish Shah, Managing Director and Chief Executive Officer of Mahindra Group, said.

While outlining the principles on which the company was formed, he said those principles talked about dignity of labour, responsibility to society and what purpose meant to the organisation, he added.

He was speaking at ABP Network’s inaugural ‘Ideas of India’ summit to delve on the topic of Reinventing Business: Purpose vs Profits.

ABP Network is the leading multi-language news channel reaching 535 million individuals in India.

“I think the policy formulation has been very sound and what we are seeing is a tremendous amount of incentives being given to ‘Make in India’ and ‘AatmaNirbhar Bharat’.

“It will create a much stronger boost and we will start seeing the effect of this in the next 5-7 years,” he said while speaking at a session called ‘Reinventing Business, Purpose Vs Profit.’