CII Forecasts 5.2% GDP Growth

New Delhi, April 29: | Updated: Apr 30 2002, 05:30am hrs
In the first major directional change in its future agenda, Confederation of Indian Industry (CII) has expanded its horizon by forming committees which will focus on areas of accounting standards, entrepreneurship, fashion industry, education, women and the North-Eastern region.

Declaring ‘Competitiveness of India Inc’ as CII’s theme for this fiscal, its new president Ashok Soota said here on Monday that the chamber has arrived at two early forecasts of gross domestic product growth.

In the first scenario, if the business remains as usual, GDP growth will be 5.2 per cent; and in the second scenario, if there is a reform momentum, it could be 6 per cent.

Mr Soota said the five-pronged strategy has been put in place to enhance growth and achieve sustainable development.

Strengthening the newly-constituted councils on agriculture, manufacturing, convergence and public policy, will be the first priority of the chamber which will address issues pertaining to these sectors, he said.

“It is not that the industry will be dependent on the government to enhance its competitiveness. The industry will take proactive action to face the global challenge and CII will provide all necessary help in this direction,” he told this newspaper.

On the social front, a North-Eastern committee to promote literacy and healthcare will be set up which will bring the region into the mainstream, he said.

Stating that the industry will play pro-active role in maintaining social cohesiveness, Mr Soota said, a social integration committee is being set up. This panel will work with NGOs and other voluntary organisations io achieve this aim.

To fulfill the industry’s developmental needs, Mr Soota announced setting up of five committees, including CII women committee, to focus on women’s empowerment and entrepreneurship committee to nurture the entrepreneurial talents.

In the current fiscal, the chamber will focus on housing as he has announced the formation of the housing committee.

Similarly, CII has planned to set up its first-ever offshore panel called ‘US offshore IT committee,’ to help create a synergy with its counterpart in India and enhance the future prospects for infotech.

In the services sector, the largest chamber will focus on logistics and transportation. A logistics committee and an inter-modal transport committee will also be set up to improve existing supply chain and provide better connectivity.

Speaking on global trade issues, he said, the government should ensure that industrial tariff must be included on the Mexico round of the WTO.