New government should focus on making in India for the world: FICCI president Anish Shah
Jun 10, 2024
New Delhi [India], 10 June : As Narendra Modi took charge as Prime Minister for the third consecutive term today, the Indian business community's expectations are coming into sharp focus.
In an exclusive interview with ANI, FICCI President Anish Shah emphasized the need for the new government to prioritize "making in India for the world."
Speaking to ANI, Shah outlined a vision for the country, urging the government to capitalize on its strengths and address critical areas to elevate India's global standing.
"The first area is creating the best manufacturing hub in India. This involves lowering manufacturing costs, continuing ease of doing business reforms, and positioning India as a high-quality destination for products. Research and development will be crucial in achieving this," he stated.
Shah emphasized the importance of transforming India into a premier manufacturing destination by reducing costs and enhancing the ease of doing business.
He stressed that continuous reform is necessary to attract global manufacturers.
"The second area is women-led development. We need more women in manufacturing and the labour workforce, with a strong focus on equality," Shah continued.
Shah said, "Thirdly, we need to enhance farmland prosperity by improving farm productivity and creating efficient value chains. Lastly, we must develop sustainable urban communities, playing a key role in a green economy and aiding climate transition."
On the Budget expectation, Shah noted that previous budgets have focused on long-term growth driven by investments and capital expenditures (CAPEX), which have significant multiplier effects.
"We hope to see this focus continue, along with addressing specific economic sectors. A combination of fiscal discipline, inclusive growth, and long-term investments is essential," he added.
Commenting on the first Cabinet decision of the Modi 3.0 government, which approved government assistance for constructing three crore houses under the Pradhan Mantri Awas Yojana (PMAY), Shah praised the initiative.
"Inclusive growth is crucial for our economy, and this decision is a welcome step in that direction," he remarked.
