SME Times News Bureau | 16 Mar, 2018
In a
working group meeting
chaired by commerce & industry minister Suresh Prabhu, on
making India a USD 5 trillion economy in 7 years, top
industry representatives emphasised on recognising the importance of
small and medium enterprises sector.
The
meeting was attended by heads of CII, FICCI, IFC, NASSCOM, Niti Aayog
and senior officials from the Departments of Commerce and DIPP.
The
participants underlined the need to factor in technological
disruptions, challenges due to climate change, positive use of
India's demographic dividend, conscious effort to make India's
manufacturing sector a part of global value chain and recognizing the
importance of small and medium scale enterprises to fuel India's
growth story.
Prabhu
said that India's GDP could reach $5 trillion in 7 years if
manufacturing, services and farm sectors show consistent growth.
He
underlined key role of the private sector to create new business
models and strategies and leverage new technologies in order to fuel
growth in the Indian economy.
Government
will act as the facilitator in this process, he said.
Government
of India has focused on twelve Champion Sectors to push growth in
manufacturing and generate job opportunities in India.
These
sectors have potential to become global champions and drive double
digit growth in manufacturing, it is expected.
