No.PR-130
December 17, 2018
New Delhi
PHD Chamber organising address by Dr Ajay Chhibber: India towards a shared prosperity
The Chamber has invited Dr. Ajay Chhibber, a renowned economist to interact with industry stakeholders, economists, policy makers, government officials and researchers on the theme India towards a shared prosperity on December 18, 2018 at PHD House, said Mr. Rajeev Talwar, President, PHD Chamber of Commerce and Industry in a press statement issued here today.
The objective of the seminar is to prepare an agenda to achieve double digit economic growth trajectory with increased participation in the global economy and to become a US $ 5 trillion economy in the next 5 years by 2023, said Mr. Rajeev Talwar.
The Indian economy has gained a lot in attracting foreign capital. FDI inflows of US $ 62 billion in 2017-18 were the highest ever in a single year. The Indian economy has the potential to become a US $ 100 billion FDI destination in the next very few years, said Mr. Talwar
India has witnessed tremendous improvement in the macroeconomic environment during the last few years and has become the fastest growing emerging economy. Going ahead, the focus of the policy environment in the next five years should be to percolate the benefits of economic growth at the grass roots and to support further the global economy to achieve its Sustainable Development Goals at large, he said.
The focus of the agenda must revolve on inclusive health and education benefits for the masses; state of the art infrastructure; a vibrant agriculture sector with seeds of high growth and productivity; rural prosperity and zero unemployment rates, said Mr. Rajeev Talwar.
The growth and competitiveness of the manufacturing sector with increased participation of manufacturing MSMEs would create tremendous employment opportunities for the growing young workforce, he said
Recent improvements in global economic parameters such as Ease of Doing Business has proved that India holds unlimited potential to expand its production frontiers, said Mr. Rajeev Talwar
Further policy focus is required to explore the tourism potential in the country, increased urbanisation and low cost housing, said Mr. Talwar
Improvement in the industrial infrastructure especially exports and logistics would go a long way to make India a competitive manufacturing hub, said Mr. Talwar.
The Macros of the Indian economy have been put on a robust footing by the present Government. It is now time to grow revenues to Rupees 35 lakh crores and the GDP to US $ 5 Trillion in the next five years. This is the goal in the economic agenda for the Government in the next 5 years, according to the PHDCCI.
Ends.
Koteshwar Prasad Dobhal
Consultant (PR)