New Delhi, Oct 10 (SocialNews.XYZ) Delhi Lt Governor (LG) Taranjit Singh Sandhu on Saturday said India has transformed from fear of doing business to ease of doing business and next phase is ease of scaling business, innovating and creating employment in line with Prime Minister Narendra Modi's vision.
Addressing 121st Annual Session of the PHD Chamber of Commerce and Industry (PHDCCI), he said by aligning governance, infrastructure, skills, technology, investment facilitation and enterprise development, the country can strengthen its position as a competitive destination for international business and advance towards more productive, innovative and globally integrated economy.
Next phase of economic development should focus on transforming market potential into productive capacity, enabling investment to create employment, skills to improve productivity, technology to support innovation and efficient logistics to reduce business costs.
Emphasis must be on measurable improvements in business outcomes rather than procedural reform alone, in line with Prime Minister Narendra Modi's vision of ease of doing business, he said.
A large consumer market provides important foundation for growth but market size alone does not determine international competitiveness, according to him.
Businesses also assess whether country offers capabilities, infrastructure and institutional conditions to serve market efficiently and use it as platform for wider expansion, he said.
Laying down path for India's next leap, he said first is talent and quality of labour.
“A competitive economy requires a skilled, adaptable and productive workforce with focus on employability, industry-oriented skills, vocational training and preparing workers for emerging technologies,” says Sandhu.
Second is technology and innovation, with focus on technology adoption, research and development, entrepreneurship and commercialisation of new ideas.
Third is investment and value creation.
“Investment should be viewed not merely in terms of capital inflows but contribution to employment, technological advancement, productivity and domestic value addition,” he said.
Meanwhile, Anil Gupta, Senior Vice President, PHDCCI, stated that true economic progress lies not merely in how fast we grow, but in how wisely we grow—creating prosperity today without compromising the resources, opportunities, and well-being of future generations.
Sandhu further noted that the national capital must emerge as centre of enterprise, investment and employment, where businesses thrive and young people find meaningful, income-generating work.
But growth must be clean, non-polluting and labour-centric, so that economic progress turns directly into livelihoods for people of Delhi. That is principle behind push to make Dwarka a major investment hub, he added.
Source: IANS
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