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CII to build hundred, 1 bln dollar cos in next 3 years

By Staff
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New Delhi, Apr 20 (UNI) To further globalise India Inc, the Confederation of Indian Industry (CII) today said it will build 100 companies worth 1 billion dollars each, through other global and Indian corporates, in the next three years.

''Through mentoring by Indian companies from the million dollar club, we are targeting to create 100 new billion dollar companies over the next three years,'' CII President R Seshasayee told reporters here.

He emphasised that there was enormous headroom to scale up the economy that was getting increasingly externalised as reflected in the growth in trade and net external capital flows.

Among the four missions that will drive CII's agenda for growth, the Mission for Manufacturing innovation will create 100 leader companies in Indian Industry with global processes on innovation and product development over three years.

While outlining four key missions that will retain the central theme of 'Competitiveness for Sustainable and Inclusive growth', CII President R Seshasayee said, ''keeping in mind the high growth rates registered in the country so far, India needs to re-position itself from a low cost manufacturer/service provider to a creative and innovative product developer.'' The CII President announced the setting up of the Innovation Cell, in partnership with National Manufacturing Competitiveness Council to develop future technologies across the manufacturing sector, specially among the SME's.

'Manufacturing Innovation', 'Knowledge and skills development', 'Inclusiveness' and 'Sustainability' would be the areas of key concern by the apex chamber for its forthcoming term.

Mr Seshasayee also announced that he has constituted a Task Force on affirmative action headed by Tata Steel Director J J Irani to prepare an action plan that will focus on education, skill development, employability, entrepreneurship and social development.

The action plan will be ready in eight weeks.

UNI SBJ/RA SS DS1635

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