Financial Daily from THE HINDU group of publications
Thursday, Jan 08, 2004

Cross Currency

Group Sites

Industry & Economy - Entrepreneurship

Create entrepreneurs to attain 10 pc growth: Kalam

Our Bureau

Mr Sushanto Roy, CEO, Sahara Media, touching the feet of the President, Dr A.P.J. Abdul Kalam, after receiving the FICCI annual award. Also in the picture are Dr A.C. Muthiah, the outgoing President, FICCI, and Mr Y. K. Modi, President-elect, FICCI, during the 76th AGM of the chamber in the Capital on Wednesday. - Kamal Narang

New Delhi , Jan. 7

THE President, Dr A.P.J. Abdul Kalam, on Wednesday asked India Inc to promote entrepreneurship for achieving a sustained economic growth of 10 per cent and help eliminate poverty in the country.

"There has been substantial growth in our higher educational system and we are generating over three million graduates every year. However, our employment generation system is not in a position to absorb the graduates passing out from the universities leading to increase in educated unemployed, year after year. This situation will lead to instability in the social structure," the President warned in his inaugural address at the 76th Annual General Meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI) here.

"We have to graduate to 10 per cent gross domestic product (GDP) growth, only then the number of people living below poverty line will reduce to zero from 260 million now," the President told the captains of the industry.

As part of his `Integrated Action Plan for Developed India by 2020', Dr Kalam said, "The syllabus at the school level needed a change to create entrepreneurs and industry must nurture and encourage entrepreneurship."

To transform India into a developed nation by 2020, he pointed out that the industry will have to become competitive globally by achieving cost effectiveness, brand performance and `just in time' delivery. "Whoever is competitive will be the winner. The law of development states that whoever is competitive will win, whether developing or developed,'' he stated.

Outlining the Programme for Urban Amenities in Rural Areas (PURA), the President said that it has to be run in a business-like fashion and the industry will have to play a key role in implementing it. He said the time has come for the second `Green Revolution' in the country to meet the food requirement of 400 million tonnes by 2020. Earlier, in his address, FICCI's outgoing President, Dr A.C. Muthiah, sought legislative changes in the areas of labour and free entry and exit option. Suggesting a charter for placing the country on a high growth trajectory, he sought deepening of the disinvestment programme, infrastructure reforms, correction of the fiscal situation of States and rejuvenation of the manufacturing sector.

More Stories on : Entrepreneurship | Economy | Industry Associations

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Cabinet okays social security scheme for unorganised workers

Auto Expo to highlight R&D, design trends
Maruti to drive in Suzuki's small car tech at Auto Expo
`India must create efficient, low-cost arbitration system'
Pant hopeful of boom in manufacturing
RBI raises GDP growth estimate to 7 per cent
Smadja prescribes agenda for strong India
Chamber hails SAFTA pact
KSIDC, NTPC to sign pact for LNG terminal
Easy Bill ties up with BSES for bill collection
Nuclear Power Corpn plans Rs 4,800-cr investment
Direct tax collections up 22.5 pc in Apr-Dec
Nabard aid for Pochampally weavers
Fiat's Panda to turn the heat on Rover in UK?
`Imbalance' seen in guideline, actual market value of land in Coimbatore
Apex court clears Tata Housing project in Goa
Metal makers' plea to scrap age stipulation in machinery import
8 pc levy for cotton knitted clothing
Textile materials expo at Tirupur
Keltec starts production of titanium gas bottles
FICCI award to Lalji Singh
ONGC public offer in first week of March
6,000 rural e-Seva kiosks to be run by self-help groups
Food & drink meet turns out to be a damp squib
Outsourcing allows cos to be competitive:
O `Brien

We must focus on infrastructure, says Mahindra
In Hyderabad today
Business schools' meet in Vizag
Create entrepreneurs to attain 10 pc growth: Kalam
CBDT move to demat tax challans
IT assessments — `Scrutiny lapses won't attract vigilance angle'
Cabinet clears Central legislation for SEZs
Dacca Oushadhalay makes a comeback
Holiday expo in Chennai

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line