CII for more reforms for sustainable growth

Kolkata, Jul 19 (UNI) The apex industrial body CII today called for a 10 pronged reform process for achieving sustainable 12 per cent industrial growth and double-digit growth rate in the economy.

" We need de-bottlenecking efforts like deregulation of energy, mining, SSI sector, flexibity of labour laws and public investment in infrastructure for enabling 1.5- 2 per cent jump in growth rates, " CII president R Seshasayee told reporters.

The country also needed enabling factors like one national goods and services tax rate, supportive policy for food sector and deregulation of organised retail, he said adding that this would result in 1.5-2 per cent growth.

The CII also called for accelerators like creation of special economic regions, innovation and environment protection for enabling 1.5-2 per cent growth.

The CII president said FDI in retail should be allowed in select cities to examine the effect and proposed Special Economic Regions (SER) in the form of towns or cluster of towns.

He also mooted venture capital approach for developing skills.

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