Sharing his views on the important role of the opposition in a democracy, Mr Anand Sharma, Deputy Leader of Congress Parliamentary Party (RS ) said that the incumbent party and the opposition are like two wheels of a chariot, necessary to run the democracy. He was addressing the Valedictory Session of the Annual Session 2017 of Confederation of Indian Industry at New Delhi, today. He elaborated that the legislative scrutiny of the bills is necessary to ensure good policies and good laws. Illustrating this with the example of GST, he said that the reform has become a reality because of the support of the Opposition.

Sharing his views on the theme of the session -Future of Globalization: Can India Lead?, Mr Sharma said it is important to look at how we are engaging with the world and vice - versa. He said that we must create a conducive environment for growth, preserve our social harmony and our internal security to claim our rightful place in the world order.

Mr Sharma opined that our reform process has been robust, and has not seen any major reversals in spite of changes in parties. He added that in the last ten years the country has made notable achievements on the back of strong foundations laid earlier.  Complementing the Indian Industry on the key role played by it post liberalization, he however cautioned against “misplaced euphoria”. He noted that while India is the fastest growing large economy in the world, many challenges remain – India has 18% of the population but generates only 3%of the global GDP because of which many Indians are still poor. The negative growth in capital formation and low capacity utilization in the economy and the slow pace of job creation are other concerns.

Dr Naushad Forbes, President CII, said that the points of differences between the government and the opposition get highlighted and are always in the public eye. However, there is much collaboration that also happens and constructive criticism leads to improved legislation.

New Delhi

29 April 2017