Home / Knowledge / News / Textiles / Assocham's blueprint for reviving economy
Assocham's blueprint for reviving economy
09
Sep '15
Assocham, the apex trade chambers body, has submitted a list of 12 Key Actionable Points to Prime Minister Narendra Modi to kickstart the economy. Assocham submitted the memorandum at the high-level industry interaction convened by the Finance Ministry on “Recent Global Events – Opportunities for India”. They include Short Term Actionables (within the next 3 months) and Medium to Long Term Actionables (3 to 12 months).

In the Short Term Actionables, Assocham asked the PM to make room for monetary easing to the tune of 75-125 bps over the next 7 months: Between Jan-Jul 2015, WPI and CPI inflation fell by 793 bps and 298 bps respectively over Jan-Jul 2014. However, the magnitude of monetary easing so far has moved by just 75 bps. With WPI showing sharp deflation, the real rates for a producer has seen a 7-8 per cent jump over the last year.

It said that since industrial sector accounts for 45 per cent of outstanding bank credit while it has a lower share of 28 per cent in GDP, there is an urgent need for investment revival through a strong dose of monetary easing.

It pointed out that rupee depreciation could preserve domestic price competitiveness in global trade. Assocham stressed that in a subdued world trade environment, India should prevent any real appreciation in rupee.

It has asked for FDI-FII fungibility in banking sector through a composite cap which will help in import of lower, effective cost equity capital, make banks efficiently capitalized, and boost consumer sentiment tremendously vide increasing lending capacity.

Assocham has called for investment revival by prioritizing project clearances. It has advocated fast track clearances for large infra projects especially for Government owned/EPC for private players to support construction activity and core sectors like steel and cement and called for protecting domestic industry from 'dumping' through adjustment in duties.

In the Medium to Long Term Actionables, Assocham has asked the government to explore Land Pooling model for PPP and SEZ projects. It said Government can encourage states to emulate the land pooling model as adopted by Andhra Pradesh and initially pioneered by Gujarat.

To boost growth through Investment revival, Assocham suggested that large cash-rich PSEs should be enabled to participate in buying out projects via transparent auctioning (post due diligence), that are delayed due to financial/technical constraints of Project Sponsors.

Asocham has also suggested floating smart city bonds to fund the smart city projects. It said affordable housing needs a thrust and mooted infrastructure status for the housing sector especially Affordable Housing.

It also called for removing impediments in the road sector by setting up a separate wing within NHAI to work on land acquisition in consultation with States. NHAI should award projects only when substantial land parcels have been acquired.


Must ReadView All

Courtesy: Indorama Ventures

Textiles | On 17th Jan 2018

IVL, Huvis to enter JV for Low Melting Fibre plant in US

Indorama Ventures Limited (IVL), a global chemical producer, and...

Future Group to set up garment manufacturing in Bengal

Apparel/Garments | On 17th Jan 2018

Future Group to set up garment manufacturing in Bengal

Kishore Biyani-led Future Group is going to set up a garment...

Courtesy: Messe Frankfurt

Textiles | On 17th Jan 2018

Intertextile Shanghai to discuss opportunities in Asia

The spring edition of Intertextile Shanghai Apparel Fabrics will...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.8%
No
13.5%
Skip
17.7%

Total Votes: 96

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.5%
No
29.2%
Skip
7.3%

Total Votes: 96

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.5%
No
9.4%
Skip
3.1%

Total Votes: 96

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.3%
No
8.3%
Skip
9.4%

Total Votes: 96


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search