Indian economy not generating enough jobs: Prez

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{image-Pratibha+Patil1_12022008.jpg www.oneindia.com}New Delhi, Feb 12: President Pratibha Patil today lamented that the Indian economy was not growing fast enough to generate the required employment levels in the country, and called upon the industry to extend support to scientific and research institutions to retain the cutting edge.

''The Indian economy is growing fast but not fast enough to generate the employment levels required in the country. People will have to be encouraged to become entrepreneurs,'' she said in her address at the presentation of Lakshmipat Singhania - IIM Lucknow National Leadership Awards 2007 here.

Ms Patil said the Indian Institute of Managements should focus on promoting entrepreneurship and related skills that could make medium and small enterprises successful and also provide such enterprises various support services particularly business development services.

The major industrial houses together with management education institutions could develop such models for providing viable support services for those enterprises so that more jobs were created in the country, she added.

The President called upon the industry to extend support to scientific and research institutions to retain the cutting edge.

''Similarly, the entire purpose of a business should not be to just make profits but also to give back to society, in whose well-being they must invest. They have a social duty to perform and those who do so deserve recognition so that others are motivated.'' The Indian industry was growing fast and making rapid strides, she said, adding manufacturing, communications, business process outsourcing, knowledge based industries especially information technology, biotechnology and pharmaceuticals have demonstrated their strength and sustainability.

Ms Patil said the Indian industry was also expanding globally and has production units and service centres in many parts of the world. Businesspersons have the responsibility to ensure that their products and services are of a quality that satisfies consumers both in the domestic and the international markets, she added.

''The 'Made in India' brand should be associated world over with quality, efficiency and assured services. This would result in a higher growth rate for industry and a better image for India.'' The President also urged the business world to play an important role in eradicating the menace of corruption in the country.

She also called upon the industrial houses could take action for the conservation of energy by using energy efficient methods and equipment and wherever possible, promote the use of renewable energy.

''Through such measures, the corporate houses will be contributing to reducing environmental pollution and the dangers of climate change.''

UNI

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