Indian Economy has been writing a fascinating growth story over the last decade: Vice President Naidu at #CIIPS2019

NewsBharati    12-Jan-2019
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Mumbai, Jan 12: “Today, India has achieved the dual distinction of being stable democracy and one of the fastest growing economies in the world,” said, Vice President Venkaiah Naidu at “Partnership Summit 2019”. He inaugurated the 25th edition of Partnership summit today.
 
 
 
Partnership Summit is the annual flagship international event of CII (Confederation of Indian Industry) with the collaboration of DIPP(Department of Industrial Policy and Programme) with the host Maharastra state. The Partnership Summit is a global, colossal platform for the leaders from all walks of life to closely examine the synergies that sparks the next phase of global growth.
 
On the day one of Partnership Summit, the inaugural session “New India-Rising to global occasions”, VP Venkaiah Naidu said, “ I congratulate the CII for conceiving this Partnership Summit, which I understand, is a Global platform for dialogue, debate, deliberation and engagement among Indian and global leaders on economic policy and growth trends in India.”
 
Addressing about India’s today economic situation, he said, “Over the last decade, within a subdued global environment, India has enjoyed a growth rate of almost 7%, touching close to $3 trillion GDP.”
 
Further, he added, In fact, this is the right time for foreign investors to tap the huge potential offered by India in various sectors from real estate to healthcare. India is the bright spot in the world’s economy today. The Indian consumer market has huge untapped potential. Rising disposable incomes and favorable demographics are attracting global corporations to the Indian market.
 
 
 
The growth in the agricultural sector, he stated that “Agriculture should be our prime area of focus. As you all are aware, agriculture is the backbone of Indian economy. It is the primary source of livelihood for nearly 60 percent of the population. Agriculture has to be made profitable & sustainable. Farmers must be encouraged to diversify into allied activities like poultry, horticulture & fishing to ensure sustainable livelihood.”
 
 
 
He said, “In the wake of various initiatives and reforms taken by the Government in the past few years, India has become one of the favorite destinations for investments in the world. India was ranked 11th in the Global FDI confidence index 2018.”
 
While speaking on the reforms done by the government of India, he said that the robustness of India’s institutions, the resilience of its policy frameworks, the reforms initiated by the government and the responsiveness of Industry bodies have successfully protected its economy from stagnation.
 
On conclusion of the speech, he quoted, “Let women empowerment & gender equality be among the founding principles of all Indian businesses. India has a billion dreams to nurture, nourish and take to fruition. I hope that Indian Industry will be an equal partner in India’s quest for sustainable and inclusive development.”