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Our Bureau

New Delhi , Oct. 6

"The challenge for India is to move a 100 million population dependent on unsustainable agriculture into the servicing and manufacturing sector to make sure the bubble does not burst," said Mr Kamal Nath, Minister of Commerce and Industry. The Minister was addressing the 33rd National Management Convention of the All India Management Association.

Stating that for every job in the service industry, three jobs were created in the manufacturing industry, the Minister said that the country needed to take the manufacturing industry's contribution from 17 to 25 per cent of the GDP.

Sharing the optimism of other speakers about India's economic growth, he said India's "competitiveness was driving global competitiveness" and it was not just because of the low cost advantage. According to the Minister, what gives India credibility is the fact that "in the last 15 years, since Mr Manmohan Singh as Finance Minster introduced reforms, there have been six governments, five prime ministers, but just one economic policy. There is a political consensus that makes our policy sustainable".

At the convention, Mr Shiv Nadar, CEO HCL Technologies and Mr Mark B Fuller, Chairman of the Monitor Group were both given honorary fellowships.

Dr Hong Chen, Chairperson and CEO, the Hina Group from China, present at the convention, said that China has only just begun to look at India.

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