Incentives would spur jobs: New ASSOCHAM president

The new ASSOCHAM team that took over this month includes Balkrishan Goenka, chairman, Welspun Group and Kiran Kumar Grandhi, vice chairman of GMR Infrastructure Ltd, as senior vice president and vice president respectively.

“ASSOCHAM established in 1920 will continue to play a leading transformational role both nationally and globally and the apex chamber will empower Indian enterprises by focusing on the most critical and relevant issues in a highly impact-oriented manner,” said Jajodia who took over from Sunil Kanoria, vice chairman, Srei Infrastructure Finance Limited.

Stating that the Indian economy is still in the stage of remonetisation, Jajodia said, “Enough cash in both rural area and cities, along with some bold and pragmatic decisions on issues like bank NPAs would be key drivers for reverting to 8 per cent growth.”

Seeking further incentives from the government for investment into manufacturing, he said, “A large manufacturing plant or a big infrastructure project creates lots of ancillary job opportunities which in turn give opportunity for start-ups by aspirational youth to unleash their entrepreneurial abilities.”

He said, the Industry is working closely with the Centre and the state governments on glide path for implementation of the Goods and Services Tax (GST), the biggest ever tax reform in the country. “We hope that remaining areas of divergence among the centre and the states are resolved in the next meeting of the GST Council.” (RKS)

Fibre2Fashion News Desk – India