“Sir, we are grateful to
you for giving us this
opportunity to make
our presentation on achieving
12 per cent manufacturing growth.
Assocham has brought out a study
paper, outlining the issues,
challenges and suggestions.
Sir, we at Assocham are happy
and encouraged that our economic
fundamentals are strong and our
economy is growing at the rate of
eight per cent. Today, we have
enormous opportunities as also
unprecedented challenges. We
greatly appreciate the initiatives
taken by Hon'ble Prime Minister
and yourself in making pro-growth
policies to make India's economy
even stronger. It is heartening that
you are keen to strengthen Indian
manufacturing sector and have
made this as a top priority during
your budget speech. By improving
the competitiveness of manufacturers, we would be able
to provide a new identity to Indian
products, raise productivity,
increase employment and improve
quality of life of our people, apart
from enhanced contribution to
the revenues.
Assocham firmly believes
12 per cent growth is not a matter
of choice but a necessity, as it will
strengthen our agriculture sector,
create employment opportunities
and make India, a global hub.
Assocham study of achieving
12 per cent manufacturing growth
represents a broad mix of small,
medium and large companies from
different manufacturing sectors.
We covered sectors like food
processing, textiles, leather goods,
automobiles and auto parts, steel,
cement, electronic products and
components, paper and paper
products, chemicals and allied
products, polymers and plastics.
Assocham study reveals that
manufacturing contributes 85 per
cent of growth in our industrial
production. The challenge lies in
sustaining the growth of nine
per cent, making it a long-term
trend and enhancing it to
12 per cent. Our manufacturing
sector contributes 75 per cent of
our exports. Our domestic market
is fast developing especially for
consumer goods, which in turn
spurs the demand for intermediate
goods and capital goods. We need
to sustain and expand our
domestic and export markets. To
achieve this, we surely need to
have a multi-pronged strategy.
....CONTD
