Industry leaders from both India and abroad on Thursday pledged their support to the government’s ‘Make in India’ campaign and sought stable tax structure, labour law reforms and expeditious decision-making to make it a reality.
At the star-studded launch of Prime Minister Narendra Modi’s ambitious programme, attended by the likes of Reliance Industries Chairman Mukesh Ambani, Tata Group chief Cyrus Mistry and Aditya Birla Group’s Kumar Mangalam Birla, industry leaders said job creation and high growth would be possible only if the manufacturing sector gets into a high growth trajectory.
‘Our aspirations on the global manufacturing arena will be fulfilled if we address certain challenges on priority,’ Mistry said while addressing the gathering. ‘These factors will include the build-up of critical infrastructure across the country supported by stable policies, transparent and competitive tax and duty structure, efficient and time-bound administration through the use of e-governance, cost effective and reliable energy coupled with logistics, critical for the competitiveness of industry,’ Mistry added.
Pledging his support to the initiative, Ambani said ‘Make in India is about the present and the future, ‘Made’ is always in the past...We commit ourselves to the Make in India movement that was given to a billion Indians by our PM.’
ICICI Bank Managing Director and CEO Chanda Kochhar said that the ‘Make in India’ programme would become the next growth driver for the country. ‘What is being launched today is actually going to be the next growth driver for India... It is believed that manufacturing, if it works to its full potential, can add about 9 crore jobs in the next decade for India,’ she said.
‘By creating India as a manufacturing hub for the world, we will increase our exports, so manufacturing is not just going to be a growth driver, not just a creator of jobs but also something that will strengthen the macro-economic stability of the country,’ she added.
Exuding confidence in India’s competitiveness, Aditya Birla Group Chairman Kumar Mangalam Birla said, ‘India has come to be known as global IT hub and reservoir of intellectual capital. It’s high time that India becomes a preferred centre of choice for manufacturing for global companies.’ The share of manufacturing in India’s GDP is low at 16 per cent as compared to 36 per cent in China, 34 per cent South Korea and 22 per cent Germany, he added.
At the star-studded launch of Prime Minister Narendra Modi’s ambitious programme, attended by the likes of Reliance Industries Chairman Mukesh Ambani, Tata Group chief Cyrus Mistry and Aditya Birla Group’s Kumar Mangalam Birla, industry leaders said job creation and high growth would be possible only if the manufacturing sector gets into a high growth trajectory.
‘Our aspirations on the global manufacturing arena will be fulfilled if we address certain challenges on priority,’ Mistry said while addressing the gathering. ‘These factors will include the build-up of critical infrastructure across the country supported by stable policies, transparent and competitive tax and duty structure, efficient and time-bound administration through the use of e-governance, cost effective and reliable energy coupled with logistics, critical for the competitiveness of industry,’ Mistry added.
Pledging his support to the initiative, Ambani said ‘Make in India is about the present and the future, ‘Made’ is always in the past...We commit ourselves to the Make in India movement that was given to a billion Indians by our PM.’
ICICI Bank Managing Director and CEO Chanda Kochhar said that the ‘Make in India’ programme would become the next growth driver for the country. ‘What is being launched today is actually going to be the next growth driver for India... It is believed that manufacturing, if it works to its full potential, can add about 9 crore jobs in the next decade for India,’ she said.
‘By creating India as a manufacturing hub for the world, we will increase our exports, so manufacturing is not just going to be a growth driver, not just a creator of jobs but also something that will strengthen the macro-economic stability of the country,’ she added.
Exuding confidence in India’s competitiveness, Aditya Birla Group Chairman Kumar Mangalam Birla said, ‘India has come to be known as global IT hub and reservoir of intellectual capital. It’s high time that India becomes a preferred centre of choice for manufacturing for global companies.’ The share of manufacturing in India’s GDP is low at 16 per cent as compared to 36 per cent in China, 34 per cent South Korea and 22 per cent Germany, he added.