Satish Bagrodia takes charge as president of PHD Chamber (Lead)

December 24th, 2008 - 7:49 pm ICT by IANS  

New Delhi, Dec 24 (IANS) Winsome Textile Industries chairman Satish Bagrodia Wednesday formally took charge as the president of the PHD Chamber of Commerce and Industry, succeeding L.K. Malhotra.Bagrodia, who was the chamber’s second-in-command said he was not satisfied with the stimulus package the government announced Dec 7, and hoped that the second package would bring cheer to the economy.

“The stimulus package is too small to make much of difference to the sagging business confidence. We are requesting the government to improve the liquidity situation which will induce demand so that adequate finance is available at cost effective rates,” he told reporters.

“The immediate challenge for the industry is to rekindle business sentiment by creating an environment conducive to growth,” Bagrodia added.

He called for the government to give priority to public investment in infrastructure and undertake public-private partnerships for the same and also called for the reduction of tax burden from 30 percent to 25 percent.

Bagrodia is also serving as the chairman of IDS Infotech and a non-official member of the Regional Direct Taxes Advisory Committee.

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