Time for Government & India Inc to collaborate for New India, says Suresh Prabhu

New Delhi

23 March Friday  2018

Kulbir singh kalsi

Government and Indian Inc required to work as a team for translating the vision of New India into reality.  A plan where people and government work together on  a single platform has to be put in place with collaborative efforts and shared responsibilities, said Shri Suresh Prabhu, Hon’ble Minister for Commerce & Industry, Government of India while addressing the CII Northern Region Annual Conference on New India: Translating Aspirations into Reality at New Delhi, today.

Manufacturing sector’s contribution to GDP stands at 16% at present as against the desired target of 20%. To enhance contribution of manufacturing to GDP, path breaking initiatives have been taken by the Government. Some of these initiatives include pumping in unprecedented Rs.3.75 lakh crores into Indian Railways, investments in infrastructure, strengthening of Ease of Doing Business, comprehensive policy for air cargo, etc.

Capt Abhimanyu, Hon’ble Minister for Finance, Government of Haryana hailed CII for playing a key role in unleashing competitive and cooperative federalism amongst states and made them realise of their potential and unique advantages. Haryana at present is ranked first in the dynamic ratings on Ease of Doing Business Index. Jan Dhan, Mudra Yojna, Pradhan Mantri Suraksha Bima Yojna, Demonetization, GST, etc. have laid a very strong foundation for translating the vision of New India into reality, said Capt Abhimanyu. He urged CII to focus beyond the boundaries of industrial development and contribute towards other significant and crucial sectors like agriculture.

Ms Shobana Kamineni, President, CII,during her address said “Global growth is now expected to pick up considerably and reach close to 4% for the next two years. With uptick in India’s GDP over the last two quarters, India has the potential for 8% growth rate in the coming few years. Reforms such as GST, Bank Recapitalization, Insolvency and Bankruptcy Code, etc. have provided impetus to investments.”

Mr Chandrajit Banerjee, Director General, CII, said that CII would continue to work closely with the Central and state governments in realising Hon’ble Prime Minister’s vision of creating a ‘New India’ by 2022.“Our initiatives during the year would focus on creating an inclusively developed India by 2022 that will shape the new world order through economic strength, technological vitality and moral leadership,” he added.

Mr Sumant Sinha, Chairman, CII Northern Region, said, “We believe that it is imperative to identify certain parameters and work on those in a time-bound manner to take India to a higher and sustainable growth trajectory. While Central Government is giving a vision and working towards creating a necessary ecosystem, the real action is in the states. Support and backing of the citizens is imperative to bring major transformation.”