Industry body PHDCCI on June 11 proposed a 10-point agenda for the new government’s first 100 days, aimed at steering India towards sustained growth and development. These points include — employment creation, double digit growth in manufacturing, strengthening exports trajectory, state-of-the-art infrastructure in tier-2 and tier-3 cities, policy to strengthen farm sector, addressing inflation escalations, enhancing digital economy, strengthening women empowerment, inclusive health infrastructure, and dedicated environment protection.
Addressing a press conference in Delhi on Tuesday, Sanjeev Agrawal, president of the PHD Chamber of Commerce and Industry (PHDCCI) congratulated the new NDA government at the Centre and said the industry looks forward to India’s continued journey towards a developed economy by 2047.
He said, “India has established many milestones during its glorious journey since its independence and has emerged as a global thought leader in recent years.”
Agrawal highlighted India’s remarkable over 8 per cent average growth from FY 2022 to FY 2024, setting the stage for significant job creation opportunities in various sectors.
“We suggest a road map for creating more than 10 crore jobs by 2030 in many segments including MSMEs (micro, small and medium enterprises), large conglomerates and start-ups,” said Agrawal.
PHDCCI Expectations For the First 100 Days
The government is urged to boost manufacturing growth to double digits by percolating ease of doing business at the factory level and reducing the cost of doing business, said Agrawal.
A new industrial policy is needed at this juncture to strengthen industrial development and employment creation in the country, said Agrawal.
The government in its first 100 days should strategise to mitigate inflation escalations by facilitating seamless connectivity between farmers, mandis and consumers. Moreover, price escalations should be managed by smoothing supply chains, controlling hoarding of food items and bringing petroleum products under the ambit of GST, said Agrawal.
In the 10-points agenda for the first 100 days, PHDCCI recommends that the government should formulate a strategy to boost the digital economy and enhance cyber security in the era of emerging AI led technologies, said Agrawal.
The government should ensure a policy to strengthen the farm sector as the farm sector will drive the futuristic demand trajectory and enhance domestic consumption, factory expansion and employment creation, he added.
PHDCCI recommends developing a blueprint to strengthen the shift to Green Accounting system. This new accounting approach will further boost India’s sustainable economic growth and facilitate reducing India’s global carbon footprint, Agrawal added.
PHDCCI conducted an analysis, ‘Achieving a Higher Exports Trajectory: 75 Potential Products and Markets’ in 2022 and identified potential 75 products to scale up volumes of exports. “In our suggestive agenda, we recommend the government to focus on these 75 products to strengthen India’s exports trajectory and increase India’s share in global exports. These 75 products will be crucial to achieve the trajectory of $2 trillion exports by 2030,” said Agrawal.
India’s economic journey reflects a nation overcoming challenges, implementing strategic reforms, and showcasing resilience across diverse sectors. We suggest that the government in the first 100 days should focus on strategizing state of the art infrastructure policy for tier 2 and tier 3 cities along with the development of rural infrastructure and modernisation of villages with adequate facilitation of public utilities, said Agrawal.
India’s growth story remains intact transitioning from women development to women led development. PHDCCI suggests empowerment of women to leadership roles in order to drive inclusive economic growth and enhancement in women driven entrepreneurship, to ensure an environment fostering equality, diversity, inclusion and belongingness, said Agrawal.
India’s economy has exhibited remarkable resilience, rebounding from the unprecedented challenge of the COVID-19 pandemic. We appreciate the Government’s proactive approach to combat COVID-19 and further boost health infrastructure in the country. There is a need to focus on inclusive and affordable health facilities and setting up well equipped health centers within the radius of 1 km and hospitals within the radius of 10 km in population areas, he said.
The post-pandemic high growth trajectory has created avenues for crores of jobs in the coming years, said Agrawal.
The size of the economy is expected to be $7 trillion by 2030 from $3.7 trillion in FY 2024 and this new addition of more than $3 trillion in the next six years will create tremendous avenues for employment creation in the country in the coming times, he said.
Comments
0 comment