Unregistered industry in Bengal holds great potential as growth agent, says Pranab

   Apr 1, 7:18 pm

Kolkata, Apr 1 (ANI): Union Finance Minister Pranab Mukherjee on Sunday said that West Bengal's unorganised industry sector has grown faster than registered industry adding that the segment holds vast potential for further industrial development in the state.

"The state has a significant unregistered manufacturing segment, which has grown at a higher pace than its registered counterpart. Traditionally, micro and small enterprises have the predominant share in the industrial sector. It has a variety of both traditional and sunrise industries reflecting the potential that the state has of improving its industrial profile," said Mukherjee at a seminar on industrial development organized by ASSOCHAM (Associated Chambers of Commerce and Industry in India).

Stressing that good infrastructure was the key to maintain high medium and long-term growth rates, Mukherjee said that public-private partnerships (PPPs) could be used to attract investment in infrastructure, which would in turn boost industrial growth.

"PPP model could be effectively deployed to attract investments in infrastructure to improve roads, the power sector, ports, communication; and infrastructure development itself would act as a catalytic agent to the industrial development," added Mukherjee.

He emphasised on the need to create more job opportunities for the state's youth, and said that requisite education and training must be imparted to encourage a more inclusive pattern of growth.

"To improve its long-term prospects, West Bengal needs to focus on education, skill training and technology upgradation on a large scale. It has to bring more people to benefit from the expanding markets. Financial inclusion is a key determinant of sustainable and inclusive growth, which in turn is essential for building up an equitable society," he added.

Mukherjee also said that the regime change in the state last year was a reflection of the state's desire for change and the new aspirations of its people.

"The political choice exercised by the people of this state in the last election clearly indicates their expectations for change and their new aspirations. I am happy that the new government under the leadership of Miss Mamata Banerjee is responding to these new aspirations and expectations of the people," noted Mukherjee. (ANI)

Govt. shrugs of ISIS video threat, says patriotism brimming in every Indian Muslim May 24, 1:11 pm
New Delhi, May 24 (ANI): Following the furore over the ISIS video in which Indian recruits are seen threatening to wage a war in India, the Centre on Tuesday asserted that no amount of threats from terrorists could make any difference whatsoever as every citizen in the country, including Muslims, would stand united against such destructive forces.
Full Story
Heavy rains floods pose major threat for Manipur May 24, 1:08 pm
Imphal (Manipur), May 24 (ANI): Manipur is on the brink of being exposed to a major flood if water levels of its main rivers do not recede quickly.
Full Story
Ban on ABVP: BJP hints at action against Jammu University VC May 24, 1:03 pm
New Delhi, May 24 (ANI): BJP general secretary Ram Madhav on Tuesday condemned the 'obstinate behavior' of Jammu University Vice-Chancellor Prof. R.D Sharma to ban the party's youth wing Akhil Bharatiya Vidyarthi Parishad (ABVP) in all educational institutions in the region and said action would be taken accordingly.
Full Story
Lucknow tops Fast Track competition, 13 more Smart Cities announced May 24, 1:03 pm
New Delhi, May 24 (ANI): Lucknow topped the list of winners of the Fast Track competition conducted for 23 cities from as many States and Union Territories as the Centre today announced 13 more smart cities.
Full Story
Comments