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Govt taking steps to make India competitive in global economy, says Amitabh Kant PTI
New Delhi: Niti Aayog CEO Amitabh Kant Saturday said the government is taking a series of measures to make India highly competitive in the global economy and stressed that the country must get into the sunrise areas of growth.
Addressing the FICCI Annual Convention, Kant said the government is also working towards bringing down the cost of logistics.
“The government is taking a series of measures to make India highly competitive in the global economy,” he said.
Kant further added that the production-linked incentive (PLI) scheme for 10 key sectors, which the government announced last month, should spur growth in manufacturing in a big way.
New Delhi: Niti Aayog CEO Amitabh Kant Saturday said India’s private credit-to-GDP ratio is the lowest among its global peers and the government is in the process of putting in place a framework for a credit push towards untapped segments.
Addressing a virtual event organised by the Global Alliance for Mass Entrepreneurship (GAME), Kant said credit scenario in India in recent years for a greater part has been seen as a drag on the economy.
“India’s private credit-to-GDP is the lowest among its global peers. Countries such as China and South Korea have had tremendous growth, massive improvement in their living standard on the back of high leverage.