Industry & Economy
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Industry Associations
Industry lauds growth-oriented Survey
Our Bureau
New Delhi, Feb 27
The Economic Survey 2006-07 has been termed "growth-oriented" by industry chambers. The FICCI President, Mr Habil Khorakiwala, said that the buoyant note struck by the Survey on sustaining nine per cent growth over the medium term was in conformity with the expectation of a high-trajectory economic growth. In a statement, he said the Survey's prognosis that "the country will miss the target for providing basic education to all by 2007" was an honest admission of the enormity of the problem.
He emphasised on improving the quality of education and health through the public-private partnership model. The CII said that the Survey has recognised the impetus to growth arising from the industrial sector. "It is deeply satisfying to see that the resurgence of the manufacturing sector is continuing, firmly placing Indian manufacturing as a force to be reckoned with in the international arena," said Mr R. Seshasayee, President.
"We need to set a growth rate target of 15 per cent in manufacturing and 12 per cent in industry in the next two years."
Assocham has expressed happiness that services and industry have registered good growth, with exports rising significantly to 36 per cent in the first 10 months of the current fiscal; it hopes this momentum will continue. The PHD Chamber of Commerce and Industry said that the Survey paints an optimistic picture of the economy with GDP growth slated to rise to 9.2 per cent in 2006-07.
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