CII redefines Roadmap for Competitive Sustainable Growth
New Delhi, Apr 4 (UNI) Corporates should adopt the Triple Bottom Line Model to not only asses the financial aspect of their performance but also the nurturing of the social and environmental capital, according to Confederation of Indian Industry (CII).
''India has come some distance in terms of competitiveness.
We have built in the minds of the investors that India has the potential to grow,'' CII President Y C Deveshwar said while addressing delegates at the Annual Regional Meeting&Session on 'Sustainable Competitive Growth: Are we on Track' here today.
In order to sustain this growth it was essential that the agriculture sector grew at 4 per cent, he said adding that this could be achieved by promoting private entrepreneurship in the rural areas and by providing knowledge and connectivity.
''Given the strong macro economic fundamentals of the Indian Economy and the fact that India has created a standing for itself amongst the international community, the current growth rate of 8 per cent for the Indian economy is very much sustainable,'' Former Secretary to the Prime Minister&Former Member, Planning Commission N K Singh said.
Reforms in the Education, Power, Healthcare and Agri Sectors were essential to sustain the high trajectory of growth, he added while emphasising on the importance of expenditure management and creation of a separate office for the same.
Highlighting the mindset issues that need to be addressed, he said the current system, while penalising faulty decisions does not reward timely completion of projects often leading to delays in implementation of important government initiatives and decisions.
''12 per cent growth rate for the manufacturing sector is achievable,'' Hi Tech Gears Ltd Chairman&Managing Director Deep Kapuria said and added that India, like China, should encash on the offshoring opportunities that existed in the manufacturing sector.
The session, which was well attended by more than 300 senior representatives from Industry, Diplomatic community, Academia, Civil Society, Institutions and Media focused on the possible strategies for realising India's full potential in a sustainable manner.
UNI RA SR HT2046