Business Daily from THE HINDU group of publications
Friday, Sep 01, 2006
Business Daily from THE HINDU group of publications Friday, Sep 01, 2006 |
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Industry & Economy
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Education States - Other States ITIs to be privatised in a phased manner Our Bureau
The Government was worried about the shortcomings in sectors such as infrastructure and skilled manpower.
Kolkata , Aug. 31 The Union Government favours a proposal of privatising all industrial technical institutes (ITIs) in the country in a phased manner. The objective of such a move is to revive their teaching standards as well as to update curriculum so that a more skilled manpower can be produced commensurate with current skilled manpower requirement. Speaking at an interactive session on `Reflections on the Indian economy', organised by the Bengal National Chamber of Commerce and Industry here on Thursday, Mr Ashok Jha, Secretary,Department of Economic Affairs, said that there were about 500 ITIs operating in the country. To begin with, the Government plans to to revive 100 institutes by giving control of these institutes to a new management team and changing the curriculum according to the present industrial needs. Although the Finance Ministry was quite optimistic of maintaining over 9 per cent annual GDP growth in the Eleventh Plan beginning April 2007, Mr Jha said that the Government was worried about the shortcomings in sectors such as infrastructure and skilled manpower.
FDI policy
The Government has thus taken a progressive foreign director investment (FDI) policy to attract fresh investments in the infrastructure sector and manufacturing operations. He said that the Centre was yet to take a decision on FDI for the retail sector. The decision on the inflow of FDI to the retail sector would be taken after examining the impact of such a move on the domestic retailers. Referring to the Chinese experience, he said that more employment opportunities were created in China after fully opening FDI in the country's retail sector. Mr Jha said that the country's foreign exchange reserves was quite satisfactory, while the flow of FDI was increasing. He also said that Indian companies were gradually penetrating into the international manufacturing front by acquiring companies.
More Stories on : Education | Other States | Foreign Direct Investment
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