SME Times is powered by   
Search News
Just in:   • Sensex jumps 1,100 pts, Nifty at above 9,900  • India's sovereign rating downgraded by Moody's  • Cabinet approves upward revision of MSME definition  • PSBs sanctioned Rs 3,200 cr loans to MSMEs in a single day: Sitharaman  • Manufacturing output at historic low in May 
Last updated: 21 Sep, 2019  

Rajiv.Kumar.9.Thmb.jpg Export key to become $5-tn economy: Niti official

   Top Stories
» Cabinet approves upward revision of MSME definition
» PSBs sanctioned Rs 3,200 cr loans to MSMEs in a single day: Sitharaman
» Manufacturing output at historic low in May
» Exporters hail exclusion of export turnover, enhancement of turnover limit of MSME
» 'Economic revival may take 6-9 months'
SME Times News Bureau | 21 Sep, 2019

Niti Aayog Vice Chairman Rajiv Kumar on Saturday said the country needs to focus on making its people healthier, especially at the grassroots, and improve the export of goods and services, if it wants to become a $5-trillion economy by 2025.

"Our children aged between 6-24 months do not get the nourishment they deserve. While 38 per cent of our children are undernourished, 50 per cent of our women are anaemic," Kumar said addressing a gathering at the O.P. Jindal Global University (JGU).

"So you have to look after your human resource, the most prized resource in a country, from the grassroots level. That will be the beginning of our attempt to get to the target of being a $5 trillion economy," he said.

He also stressed upon improving the export of goods and services. "In agriculture, it is astonishing that 43-44 per cent labour produces 16 per cent of the GDP, whereas the export is negligible. We have tremendous demand locally and globally, but we need to unlock the growth potential," he said.

Kumar was delivering the valedictory address at JGU's two-day conclave on "Building a $5 Trillion Indian Economy: The Way Forward" this week.

In his inaugural address, N. Sivasailam, Special Secretary (Logistics), Ministry of Commerce and Industry stressed upon the need to create long-term funding sources through institutional development, instead of depending on commercial banks for building the country's infrastructure.

Speaking on the current economic slowdown, Sivasailam described the economy as a "riding a tiger from which we can't get off".

"There is a need to radically reimagine our knowledge system, including our universities, which I believe are the heartbeat of the future of building a $5 trillion economy," said Professor C. Raj Kumar, Founding Vice Chancellor, JGU.

The conclave witnessed a number of interesting sessions with policy makers, industry experts, economists, financial experts, law practitioners, academicians discussing the prospects of growth, and global economic and financial issues affecting the Indian economy.

The Indian government has put out a bold vision of creating a $5 trillion economy by 2025. To nearly double the economy in six years will require significant industrial growth coupled with access to infrastructure funds, financial inclusion of a broader section of society, adoption of emerging technologies, and smart trade policies, the experts said.

Print the Page
Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 01 Jun, 2020
  Daily Poll
COVID-19 has directly affected your business
 Can't say
  Commented Stories
» Starting an import export business: Basic guide for beginners(1)
» China's forex reserves reach USD 2.85 trillion(1)
» FM reviews macro-economy in FSDC meet(1)
» Appoint distributors, expand your business(1)
» MSME stimulus(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter