Pune – Suresh Prabhu, Hon’ble Minister of Commerce and Industry called for modernisation of manufacturing sector by bringing in new ideas and technology to increase the contribution of manufacturing sector in India’ GDP. He said that that future Indian growth story is private sector driven while speaking at an interactive session with industry captains organised by Confederation of Indian Industry in Pune.
In his address here, Mr Suresh Prabhu spoke about Government’s focus on important sectors like manufacturing, agriculture and services and called for industry to bring in new technology for growth of these sector. Speaking about the recent ease of doing business report, he mentioned that India has already climbed up the rank from 130 to 100 and now the target is to reach to the 50 mark.
Mr Prabhu also spoke of the initiatives taken by the Government of India for industrial growth and said that they are working on better utilisation of resources and ease of doing business, focusing more on District level plan to understand the ground reality. In his address, he also emphasized on the need to promote start-ups through collaboration.
Minister highlighted on the need to modernise the existing Industry and at the same time focus on few new industry – the industry of the future.
He also mentioned that the Government is working on new industrial policy and foreign trade policy as well, adding that the Government is in the process of creating Agri Export policy for the first time and also working with WTO and FTA for Ease of doing business which will definitely benefit SMEs at large.
He also emphasized that logistics is a key to success for import and export and to be in the league of global supply chain, we need to modernise our manufacturing and service sector. Minister concluded by saying that we are on the verge of making an interesting journey and becoming third largest economy in the world.
Earlier during the day Dr Naushad Forbes, Immediate Past President CII started the session by congratulating the government for their reform initiatives that has led to India’s position going up in the ease of doing business report and also its inclusive approach towards growth of Indian industry. Dr Forbes also said that the GST is a transforming reform and it will give significant benefits to industry.
Mr Rajan Navani, Managing Director of Jetline Group of Companies moderated the session along with Dr Naushad Forbes.