8% GDP growth possible: President

President Pranab Mukherjee has underlined the need for “bold decisions” to enhance manufacturing sector growth.

According to him, the ‘Make-in India’ campaign looks to increase the share of manufacturing in the country’s GDP from the existing 15 per cent to anywhere between 20-25 per cent. He was addressing the 185th anniversary of the Calcutta Chamber of Commerce.

“We can achieve it provided we put our efforts concertedly and take bold decisions. These are the challenges which provide opportunities to the nation. Collectively, we can face the challenges and find a solution,” the President said. 

He further maintained that it was possible for the country to achieve an 8 per cent GDP growth. 

“Already, the World Bank report on India indicates a 7.2 per cent growth in 2014-15. In 2015-16, growth will be more. And very soon we may achieve 8 per cent GDP growth which is not beyond our reach. And, we shall have to sustain it,” the President said. According to Mukherjee, it is for the policy-makers to ensure that they can sustain this GDP growth.

Modi government Praising the various initiatives of the Narendra Modi government, Mukherjee maintained that programmes like “Clean India”, “Clean Ganga”, “Digital India” and “Smart Cities” are opening up new vistas of development and are bringing in new technologies. 

Political stability, he pointed, was also a requisite for other countries looking to invest here.

“Various other countries are now considering India as an investment destination because there is political stability,” the President said.

Japan, he maintained, was one such country that was contributing to India’s developmental assistance.

He also pointed out that the Japanese Prime Minister, Shinzo Abe’s visit to India has resulted in a fruitful discussion. And Prime Minister Narendra Modi’s visit to Japan in September 2014 has led to a strategic global partnership.

Mukherjee also harped on the need to harness technology to come up with solutions.

“We must look at technology (to provide) solutions where we are in short supply of materials,” the President said while maintaining the agriculture continues to be a “main-stay” of the country.

Shahabuddin exhibition Later, in the evening, the President inaugurated the paintings of the famous Bangladeshi painter Shahabuddin Ahmed’s painting exhibition in Kolkata.

Shahabuddin, who was a platoon commander during the 1971 liberation war, now lives in Paris. He was conferred with the French title ‘Chevalier de l’Ordre des Arts et des Lettres’ (Knight in Order of the Arts and Literature).

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