The Hindu Business Line : CII unveils agenda for clocking 8% GDP growth

PRESENTING the agenda - Development and Growth: Issues and Challenges - for achieving 8 per cent sustained growth in GDP, the Confederation of Indian Industry (CII) has outlined key focus areas and six new initiatives for 2004-05.

These are Condition monitoring (for power equipment); Logistics Advisory Service; Advisory Policy for SMEs; Green Buildings' Advisory Services; and Technology support for micro-enterprises.

Addressing newspersons here today, Mr Sunil K. Munjal, President of CII, said on top of the national agenda for 2004-05 was the rural economy, and the confederation's three principal recommendations were stress on rural housing, a focus on developing a farm policy based on public-private partnership and incentivising corporate involvement in agricultural production and processing.

Appreciating the focus of the UPA government on rural economy, Mr Munjal said there was a need to ensure strong rural connectivity to help farmers market their produce effectively and get maximum returns. The CII plans to set up a new task force, while its Agricultural Council will closely look at issues of developing markets, providing finance and encouraging private investment in agriculture. In the critical area of infrastructure, the CII is planning to set up new task forces on water, power and health, and develop a new logistics advisory service, with focus on marketing India as an investment destination, and also facilitate international experience sharing.

Mr Munjal said the confederation's development agenda and priorities will fully revolve around rural economy, infrastructure, manufacturing, SMEs, services, social development and global networking.

Citing infrastructure as the other key focus area, he stressed on the need for removing bottlenecks, and catalysing much higher investment through an effective public-private partnership. He also suggested a transparent regulatory and legal framework and addressing of the financing issues, including user charges. Improving of infrastructure is key to our industry becoming competitive, as also for attracting foreign investments, he pointed out.

Highlighting the turnaround in the manufacturing sector, Mr Munjal mentioned that the stress should be on making Indian companies globally competitive by providing world-class infrastructure and reducing transaction costs. The CII has recommended focus on sectors of high potential growth such as technical textiles and drugs and pharma.

On the SMEs front, Mr Munjal has suggested revamping of the financing system, enacting of a small industries development Bill, clear redefinition of small, medium and tiny sectors and introduction of a limited partnership Act.

Urging the Government to promote the development of high potential services sector, such as retail and healthcare, he said there ought to be an efficient mechanism for training, retraining and professional education provision for potential and existing employees.

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