Corporate sector poised to become engine of economy growth: PM
December 14th, 2010 - 2:05 pm ICT by ANI
New Delhi, Dec 14 (ANI): Prime Minister Dr. Manmohan Singh on Tuesday said India’s corporate sector is poised to become the Indian economy’s main engine of growth.Addressing at the inaugural session of the India Corporate Week here, Dr. Singh said: “India’s corporate sector is poised to become the main engine of growth for the Indian economy. The responsibility it carries is, therefore, truly enormous.”
“The Ministry of Corporate Affairs has a mandate to provide an enabling regulatory framework to facilitate the corporate sector to function productively and responsibly, and broadly in line with our national aspirations,” he added.
He further said that the streamlining of corporate registration under the MCA21 e-governance scheme has increased convenience and added to the spirit of transparency for the investor and provided end-to-end services to the corporate sector.
“I am happy that the corporate sector has responded positively to the challenge of sustainability and some of the Indian models of integrating sustainability in core business processes are being showcased as the best in the world,” he added.
He said that several corporate leaders have already recognized the value of capacity building and skill development and are working with the Government through ongoing schemes and the National Skill Development Corporation.
“Some industry associations have offered to partner in improving our ITIs and developing skills of youth, particularly those who are poor and marginalized. But such efforts have not reached a scale that could have a visible impact on production processes in our country,” he added.
Emphasising that Indian companies are strategically increasing their presence overseas, Dr Singh said: “India has always been a nation of entrepreneurs. Today it is a nation of world class professionals as well.”
“The private sector now contributes significantly to all sectors of our economy, including infrastructure development, which until recently was an exclusive preserve of the public sector until a few years ago,” he added.
“In recent years, the private sector is also successfully engaged with the government in PPP projects,” he added. (ANI)
- Skill development for 500 million Indians: A mantra for action (Comment) - Feb 13, 2011
- Government committed to wellbeing of workers: PM (Lead) - Sep 15, 2010
- Manmohan Singh calls efforts to enhance productivity - Sep 15, 2010
- We have to think differently how to solve problems: PM - Aug 22, 2011
- Both managements, workers must improve work ethics: PM - Sep 15, 2010
- Declare 2012 as year of 'Proud to be Skilled Indian' (Comment) - Dec 25, 2011
- West Bengal to set up IT hubs in all districts - Jul 26, 2011
- Invest in social sectors, PM urges Indian industry - Mar 26, 2011
- Young Indianpopulation an asset in taking nation to greater heights: Manmohan Singh - Oct 27, 2010
- UPA-II: PM showcases 7 percent growth rate - May 22, 2012
- India, EU should take lead in avoiding global protectionist trends: PM - Dec 10, 2010
- Urban housing needs strategy to meet demand: Pranab - Jan 23, 2011
- SRK barred from Wankhede for five years (Lead) - May 18, 2012
- Fruits of growing Indian economy not being enjoyed by all: Mukherjee - Apr 08, 2011
- BRICS working for shared prosperity: Manmohan Singh - Apr 14, 2011
Tags: core business processes, corporate leaders, corporate registration, corporate sector, dr manmohan singh, dr singh, e governance, inaugural session, indian economy, indian models, industry associations, manmohan, manmohan singh, mca21, national aspirations, production processes, regulatory framework, skill development, visible impact, world class professionals