Centre fostering spirit of enterprise: Minister

Hyderabad, Sep 20 (UNI)Union Minister of Stae for Defence M M Pallam Raju today said the Centre was committed fostering a climate where the spirit of enterprise could soar in unshackled economic environment.

Addressing the The Indus Entrepreneurs and Indian School of Business(TiS-ISB) Connect 2006 at the ISB premises here, he said the government was simplfying tax structures and streamlining complince norms thereby ushering in an enviornment of transparency and easy compliance.

The benefits of these measures would be increasingly realised by the entrepreneurial class.

He said the Indian economy had been consistently averaging a growth rate of about eight percent for the last three years and was expected to cross the figure in the years ahead.

As a rising economy in the region and with one of the youngest skilled workforce in the world coupled with immense entrepreneurship potential, the spotlight was definitely on India.

The latest surveys had indicated that India was the fourth favourite destination for the global tourist he said and urged the entreprenuers to direct their efforts at creating enterprises that would be able to fulfil the consumerist aspirations of the people.

There also exist immense opportunity to the private sector to fulfil the evolving and challenging needs of the armed forces.

Andhra Pradesh Chief Minister Y S Rajasekhara Reddy said the state government would come out with a new and innovative entrepreneur scheme and make TiE-ISB Connect an annual feature.

US Consulate in India David Hopper expressed his happiness over entrepreneur growth in the state.

TiE President J A Chowdary said there was certainly a great deal of knowledge to be gained for all the participants with more than 300 business presentations and over 40 venture capitalists eyeing to strike new investment deals.

Dean of the Indian School of Businss Ramamohana Rao said Prime Minister Manmohan Singh would inaugurate the fifth anniversary celebrations of the school in December this year.

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