The Hindu Business Line : CII to follow PM's call for `inclusive growth': Mittal

Ahmedabad April 4 The Confederation of Indian Industries (CII) is going to follow the call given by the Prime Minister, Dr Manmohan Singh, for "inclusive growth and sustainable development", its new President, Mr Sunil Bharti Mittal, said here on Tuesday. Mr Mittal, who handed over the charge of Bharti Enterprises to take up as CII's President for a year, denied that he was retiring. "There is no question of retirement," he told presspersons on the sidelines of the Third Convocation at the Nirma University of Science and Technology here, where he was the chief guest.

Diversification plans

Mr Mittal pointed out that the Bharti Group's plans for diversification into sectors such as non-life insurance, retail and contract farming are on the track. "We have applied for the direct-to-home and the transponder and we hope to start it by year-end. We are also ready for the 3-G as soon as the Government gives the nod."

Bharti has also got licences for telecom services in Sri Lanka and Seychelles recently, he added.

He said the group has already invested about Rs 1,000 crore in Gujarat and another Rs 2,500 crore would be invested in the next year or so.

The country's huge demographic dividend, however, could become a liability if the benefits of reforms and opening up of the economy does not percolate to the lowest strata of the society.

"If India manages to properly educate and train 830 million youths in 10 years and gave jobs to 320 million of them, every third hand serving the US and Europe would be an Indian's, either off-shore or on-shore."

Mr Mittal praised the new fiscal's Budget, saying it was a "clarion call" given by the Finance Minister, Mr P. Chidambaram, to bring the neglected areas into mainstream of the economy and make them part of India's growth story.

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