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CII unveils 10-point agenda to revive growth
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SME Times News Bureau | 04 Jun, 2020
Newly appointed CII President Uday Kotak on Thursday said as the
coronavirus pandemic has changed the status quo of the world, the
corporate sector now needs to focus on managing growth, lives and
livelihoods while considering the challenges associated with life after
the pandemic.
Presenting a 10-point roadmap to revive growth in
the post-Covid world, Kotak also said that growth is a necessity now and
it should lead to creations of jobs.
"Growth is a necessity that
should lead to creation of more jobs while CII works as a knowledge
partner with the government for building self-reliant and competitive
India that is deeply engaged with the world," he said at a media
briefing here on Thursday.
The Confederation of Indian Industry
(CII) has laid out a 10-point road map to revive growth and navigate the
challenges of loss of lives and livelihoods posed by the global
pandemic COVID-19 that has forced countries across the world to reset
their growth paths. The industry body's theme for 2020-21 is 'Building
India for a New World: Lives, Livelihood, Growth'.
"We are in
uncharted territories and are grappling to find new ways to brave the
changes. But we are confident of the resilience of Indian industry and
its innovative skills to beat every such challenge", Kotak said.
One of the major features of CII's roadmap is the protection of lives and livelihoods.
It
said that as India restarts, Centre, state and local authorities must
work together to ramp up testing infrastructure along with robust
identification of containment zones and an agile health and safety
response to control the coronavirus spread.
As 80 per cent of the
employment is in the unorganised sector with no social security,
addressing the protection of livelihoods will need measures to increase
formalisation of employment through labour and regulatory reforms which
would also encourage businesses to move towards the formal sector.
Industry
will need to work in partnership with the governments to help create
more jobs while bringing in more of the workforce under the formal
sector, CII said.
Further, prioritisation of health and education
is another major target. A long-term strategy of dealing with future
pandemics through high quality preventive healthcare, focus on
nutrition, sanitation and hygiene needs to be established.
India
has a tremendous shortage of healthcare professionals at all levels,
said the CII agenda, adding that education plays a key role in achieving
the required levels of standards in delivery of healthcare, nutrition
and hygiene.
Financial stability should also be an important
factor while deciding the fiscal stance, according to CII, and it said
that finding the fine balance will be of utmost importance at this
crucial juncture as various stressed sectors of the economy will look
for relief and stimulus packages.
A battered industry will need
support from the government in many forms, including investment-friendly
policies that will drive demand and measures to help tide over the
liquidity crisis, it said.
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