News coming from the Indian Economy sector is very flabbergasting. With nosediving rupee and depreciating economy the revival of Indian economy contemporarily seems to be blotted out by the smog of downfall of the Indian economy. Where there is a will, there is a way and with this thought in mind in an unprecedented move Commerce and Industry Minister Anand Sharma and Finance Minister P. Chidambaram are going to Washington to lure investors and big companies to invest in the country.
Presently the economy of most of the developing countries in the world is observing a downfall which a very bad presage of reversal of capital inflows and uninterested investors. There is no denying in the fact that US is having a very prodigious and humongous role in the world economy but this is also a fact that " God helps those who help themselves".
The White House's policy is definitely going to effect a radical and substantial change but now the government has to take steps itself too.
India is home of 1.241 Billion people and is counted 2nd in the list of most populated countries only second to China and that's why it needs more jobs and amenities for its denizens than that of others. Investors confidence in India is completely obliterated. Despite of being world's third largest economy the Government has hardly thought about it. Everythings works here in India (Jugaad Method). FDI is in tatters as many big foreign investments deeming India as the most successful market are thinking of mulling over their investments again. Financial sector reforms like insurance and pension have also been held back on various pretexts and the programmes started by various financial ministries have also been proved futile bearing no fruit at all.
Achieving good growth requires a single-minded growth policy. To generate more and more jobs that the people now requires take some beating and the government has to introduce labour intensive manufacturing in handloom, handicraft etc to encourage and stimulate growth. We would definitely get the best results if we concentrate on job production rather than job protection.
We have to get our basics right. Small and Medium industries give employment to around 40% of the total workforce of India and also contribute to 45% of India's manufacturing output. We have a strong and robust need to enhance their growth and have to provide them with best and innovative financing.
We also have a strong need to get our manufacturing sector growth accelerated. Manufacturing sector plays a very critical role in the function of the finance sector and we need to invest in that.
For large scale industries India needs to make itself a lavish and luxurious market and to ease trade norms and red tapes which are preventing the foreign investments into the nation.
In the coming time we are going to become the world's largest market and to maintain that standard we have to work very efficiently and with utmost efficacy.
Presently the economy of most of the developing countries in the world is observing a downfall which a very bad presage of reversal of capital inflows and uninterested investors. There is no denying in the fact that US is having a very prodigious and humongous role in the world economy but this is also a fact that " God helps those who help themselves".The White House's policy is definitely going to effect a radical and substantial change but now the government has to take steps itself too.
India is home of 1.241 Billion people and is counted 2nd in the list of most populated countries only second to China and that's why it needs more jobs and amenities for its denizens than that of others. Investors confidence in India is completely obliterated. Despite of being world's third largest economy the Government has hardly thought about it. Everythings works here in India (Jugaad Method). FDI is in tatters as many big foreign investments deeming India as the most successful market are thinking of mulling over their investments again. Financial sector reforms like insurance and pension have also been held back on various pretexts and the programmes started by various financial ministries have also been proved futile bearing no fruit at all.
Achieving good growth requires a single-minded growth policy. To generate more and more jobs that the people now requires take some beating and the government has to introduce labour intensive manufacturing in handloom, handicraft etc to encourage and stimulate growth. We would definitely get the best results if we concentrate on job production rather than job protection.We have to get our basics right. Small and Medium industries give employment to around 40% of the total workforce of India and also contribute to 45% of India's manufacturing output. We have a strong and robust need to enhance their growth and have to provide them with best and innovative financing.
We also have a strong need to get our manufacturing sector growth accelerated. Manufacturing sector plays a very critical role in the function of the finance sector and we need to invest in that.
For large scale industries India needs to make itself a lavish and luxurious market and to ease trade norms and red tapes which are preventing the foreign investments into the nation.
In the coming time we are going to become the world's largest market and to maintain that standard we have to work very efficiently and with utmost efficacy.
God Bless India
God bless you.
Jai Hind, Jai Bharat
Jai Ma Bharti
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