What are CIIs priority areas this year
Our attempt was to identify the focus areas depending on the countrys priorities of national stability, growth, economic welfare and employment-creation. Hence, we will focus on 10 areas of education, skill development, economic growth, manufacturing, investments, ease of doing business, export competitiveness, legal and regulatory architecture, labour law reforms and entrepreneurship. This is not a three- or six- month agenda, but a long- term one.
What are the industrys expectations of the new government
We expect a stable government, whether coalition or a single-party one. Economic development is key, and both manufacturing and infrastructure growth require strong governance.
Which are the areas of immediate concern
The areas that are of immediate importance are implementation of Goods and Service Tax (GST), infrastructure development for ease of doing business and boosting investor confidence. Besides, the Cabinet Committee on Investment has identified projects worth R6.5 lakh crore that have to be taken up by the centre and states for clearances.
You talked about India achieving the aspirational growth mark of 6% if the new government takes up economic reforms
Things have looked better in the last 4-5 months and even the world economy is improving. We can achieve 6-6.5% as 85% of our economy is domestic. An increased focus on mass manufacturing sectors and labour-intensive service sectors, such as education and tourism, have resulted in reversal of decline in job creation.
Restructured labour laws are effective in encouraging employment creation while investment in agriculture removes supply bottlenecks. Infrastructure expansion takes place to create new capacity in roads, ports, airports and railways.
How was your meeting with the PM
We had a very good discussion and the PM made observations on each area. He stressed a lot on urbanisation and the manufacturing sector. He also spoke on the importance of development of urban cities in tier 2 and 3 towns.