PREPARE A COMPLETE BLUE PRINT OF GOVT. POLICIES FOR INVESTMENTS: PHD CHAMBER

PREPARE A COMPLETE BLUE PRINT OF GOVT. POLICIES FOR INVESTMENTS: PHD CHAMBER

PREPARE A COMPLETE BLUE PRINT OF GOVT. POLICIES FOR INVESTMENTS: PHD CHAMBER

 

No.PR-145
December 2, 2014
New Delhi

 

PREPARE A COMPLETE BLUE PRINT OF GOVT. POLICIES FOR INVESTMENTS: PHD CHAMBER

 

A Seminar on Growth Prospects of Indian Economy: Are we on Track for Good Days conducted under aegis of PHD Chamber of Commerce and Industry has asked the political leadership to come out with a complete blue print of mega policies to woo investors and sustain their operations as also urged them to frame policies for external engagements which lead to acceleration of the exports.

 

The participants airing their views on the subject pointed out that in the last six months Indian masses have heard policy pronouncements and their declarations in the form of speeches as their intentions have yet to be condensed in the policy documents.

 

Leading among them comprised Prof. Dr. B B Bhattacharya, Eminent Economist and former Vice Chancellor, JNU; Dr. Pronab Sen, Chairman, National Statistical Commission; Dr. Nilotpal Goswami, Principal Director, CAG; Ms. Sudha Pillai, former Member Secretary, Planning commission; Dr. Tamanna Chaturvedi, Trade Consultant, IIFT; Mr. Gopal Jiwarajka, Chairman, Economic Affairs Committee, PHD Chamber; Mr. Shyam Poddar, Co- Chairman, Economic Affairs Committee and Chairman, FOREX Committee, PHD Chamber and Mr. Saurabha Sanyal Executive Director of the Chamber.

 

Dr. Bhattacharya felt that the intentions of the new government sound for better but it should abstain from making populist policies and roll out a complete blue print clearly enunciating its new economic policies so that investors are retained in India.

 

Dr. Sen in his key-note address demanded that mega projects should be executed through PPP mode and asked for acceleration of public fund for executing rural roads and their link projects to make sure that large corporates grow and with them follow the growth for MSMEs.

 

Dr. Goswami said that to ensure growth, stable policies are required with alignment of business and political outlook in which corporates should articulate their requirements with the use of technology for value addition.

 

Ms. Pillai in her remarks asked the government to focus on survey of data collection which can be inclusive in the sense that its authenticity is no were questioned and the true picture of all sectors of the economy reflected in government’s analysis.

 

Dr. Chaturvedi said that the government’s export policies were not in sync with ground realities of MSMEs in which they functioned and that was one reason our exports assignment are sometimes returned to their original land.

 

Mr. Gopal Jiwarajka, Chairman, Economic Affairs Committee, PHD Chamber suggested that the authorities should make the regulatory compliances more simplified for MSMEs; in order to boost external funding for the sector and to improve the competitiveness of MSMEs sector and the government should cut wasteful subsidies, rather than growth-inducing investments and subsidy must be converted into investment in the farm sector.

 

Mr. Shyam Poddar, Co- Chairman, Economic Affairs Committee and Chairman, FOREX Committee, PHD Chamber said that there was requirement to adopt approach focusing on greater transparency, data monitoring and information dissemination and to move away from micro management of foreign exchange transactions to macro management of foreign exchange flows.

 

In his concluding remarks the Executive Director of the Chamber Mr. Saurabh Sanyal said that interest should be generated amongst youth to participate in the manufacturing sector as most of the IITians have been diverted towards other sector of the economy and the manufacturing sector is facing severe talent crisis. 

 

ENDS

Koteshwar Prasad Dobhal
Consultant (PR)