The government is considering launching a production linked incentive (PLI) scheme in the chemical sector to boost domestic manufacturing and exports. Addressing a webinar on Implementation Strategy of Budget Announcement 2021-22 , Chemicals and Fertilisers Minister D V Sadananda Gowda on Friday said the government is working on a consultative approach in forming the policies for India s chemicals and petrochemicals sector. The webinar was organised by the Department of Chemicals & Petrochemicals and FICCI. Implementations of the Budget announcements cannot be done only by the government. We should take our industry in confidence so that implementations can start from first week of April. The challenge for the government is to now match the suggestions of the industry with the implementation part, he was quoted as saying in a FICCI statement.
Industry body Ficci on Thursday said the Haryana government s new legislation that provides reservation in private jobs for local candidates will spell disaster for industrial development in the state.
Ficci President Uday Shankar said the government s move to reserve 75 per cent jobs for the local population in private sector will spell disaster for the industrial development and private investment in the state. Investors and entrepreneurs need to source the best human resources available in the country to be competitive and successful. To force them in such a regressive straight-jacket will force them to look beyond Haryana and this will ultimately hurt the interests of the state, Shankar said.
Read more about Marginal Growth Reported In Q3 Of 2020-21 Is Indeed Encouraging: FICCI on Business Standard. Commenting on the GDP numbers, Mr Uday Shankar, President, FICCI said "The positive albeit marginal growth reported in the third quarter of 2020-21 is indeed encouraging. The numbers are in line with the expectations and are reflective of the
Mr Narendra Modi, Prime Minister of India said that the role of the private sector has increased in Indian defence manufacturing over the years. Today s India is working to further increase its capacity and capability in the sector. The 21st century defence sector cannot stand without private sector partnership, he added. Addressing the virtual session Budget Announcements: 2021-22, Galvanizing Efforts for Aatmanirbhar Bharat , organized by the Ministry of Defence, jointly with FICCI and other industry chambers, Mr Modi said that to promote the Indian private sector, the government is giving more impetus on Ease of Doing Business. We have taken a number of measures, including delicensing, deregulation, export promotion, foreign investment liberalization, in the defence sector. We are working ahead and focusing on transparency, predictability and ease of doing business, he added.
The Federation of Indian Chambers of Commerce and Industry (FICCI) has welcomed Prime Minister Narendra Modi s acknowledgment of the role of Indian industry and business. Expressing his appreciation over the PM s statement, Uday Shankar, President, FICCI said that at a time that the COVID-hit Indian industry is trying to pick up its rhythm of high growth, Prime Minister s acknowledgment would be a much-needed shot in the arm for entrepreneurs and the business community.
The private sector contributes as much as 87% to the GDP and almost 60% to the employment in the country. This statement by the Prime Minister will lead to a fresh new discourse towards the national consensus on the role industry and enterprise play in this country.