Economy poised to do extremely well-FICCI
Source : MI
Sep 24, 1999, 11:13:40 AM
Federation of Indian Chambers of Commerce and Industry president Sudhir Jalan on Thursday sounded a positive note on the economy, saying the worst was over and that the economy would do extremely well this year.
Addressing the 82nd annual general meeting of the Federation of Karnataka Chambers of Commerce and Industry here, Mr Jalan said the turnaround of the economy has already come. "We have a bumper agriculture crop. All the rights synergies are there," he added.
Rejecting the argument that only political stability would lead to economic prosperity, Mr Jalan said the highest number of changes have come during April 15 to September 15 this year, a period in which the turnaround has happened.
Mr Jalan said the 'feel good' factors was already there in the industry and called for 'feel better' factor by introducing a second set of economic reforms. FICCI would propose an economic agenda for the new government setting out as to what it should do in the first 60 days in office, headed.
Stating that knowledge would be the key driver of growth in the next millennium, Mr Jalan said the southern part of the country, which possessed a good knowledge base and manpower, would witness the highest growth in the next 25 years.
Central vigilance commissioner N Vital in his address suggested that the chambers of commerce and industry should take the initiative and come up with policy papers on different aspects of the industry, commerce including even issues affecting the public interest and public life like corruption so that they can emerge as a significant voice in building up the society tomorrow.
"All the debates in the media till now have focused on corruption from the demand side. However, there is also a need to look at the supply side of the corruption," he added. Later speaking to the reporters, Mr Vittal strongly favoured scrapping of the Contract Labour Abolition Act, saying, "If you want India to become a service economy, you have to contract them (labour)."
"If you prevent contracting out, it's against the growth of the economy," he said. "I know it's a controversial thing. Many labour leaders will say it is anti labour," he added.
|
