GDP Can Touch 8.25% in 2016-17: CII President

09 Apr '16

4 min read

CII also recommended a comprehensive policy for developing solar energy, including solar panel manufacturing, standards and financial strategies.

As for its integrating with the world enabler, Dr Forbes announced the launch of CII Market Facilitation Services for end-to-end services for Indian companies to operate overseas. Likewise, services to overseas companies entering India would also be provided.

“No country has grown without rapid increases in productivity at all levels, including human resources, capital and innovation. India must accelerate its productivity attainments through strategic interventions on building human talent, quality, and technology,” he stressed citing example of countries such as Japan and Korea,

Employment generation and entrepreneurship are imperatives to address inclusiveness of the growth process, felt Dr Forbes. He observed that initiatives such as Standup India launched this week by Prime Minister would create new opportunities for inclusive growth. He also outlined CII initiatives in this critical area.

The new CII President lauded the Government for its strong reform agenda and highlighted further areas to be addressed at the policy level to enhance competitiveness. He urged for the quick passage of the Constitutional Amendment to introduce the Goods and Services Tax that would make India a single market and reduce transaction costs.

The Bankruptcy Bill and a uniform public procurement policy are further items on the legislative agenda. States should consider amending their labour regulations and land acquisition processes to create a better investment climate, stressed Dr Forbes.

According to the CII President, non-legislative reforms that can be implemented through administrative action should be accelerated. Some of these include expansion of the JAM trinity of Jan Dhan Yojana, Aadhar and mobile telephony, grandfathering and sunset clauses for new Government schemes, and continued action on infrastructure investments. (SH)

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