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CII Industry Voice
 
We have just seen a truly historic WTO deal. India played a constructive leadership role which yielded positive outcomes on TRIPs waiver for COVID vaccine manufacturing, disciplining fisheries subsidies to check illegal and unregulated fishing and decision to work towards finding a permanent solution to public stockholding for food security by next Ministerial. CII congratulates the Hon’ble PM and Commerce Minister and his team for this achievement.  
Mr Sanjiv BajajPresident, CII 2022-23

Manufacturing and services will be the twin engines of growth. The enabling policies of the government particularly the PLI scheme, are expected to push manufacturing sector’s contribution in GVA to 27% by FY48. Similarly, Services, too, will witness its share rise from 53% to 55% in the terminal year. The contribution of exports to GDP must rise while the investment rate must be stepped up. Both government and industry must be equal partners in achieving this.
Mr Sanjiv BajajPresident, CII 2022-23

Global headwinds and inflation will have to be countered with robust policy reforms, both domestic and external sector reforms, to unlock the growth potential of the Indian economy. Tailwinds that are supportive of growth in the short-term include government capex, private sector investment which is showing an uptick aided by strong demand in some sectors and the PLI push in the others, good agriculture season on the back of the expectations of a good monsoon and positive export momentum.
Mr Sanjiv BajajPresident, CII 2022-23

India has the potential to become a US$ 40 trillion economy by the time it turns 100, in 2047, with milestones at US$5 trillion by 2026-27 and US$9 trillion by 2030-31.
Mr Sanjiv BajajPresident, CII 2022-23

CII expects the GDP growth in a range of 7.4-8.2% in 2022-23, with the outlook critically hinging on the trajectory of global crude oil prices.
Mr Sanjiv BajajPresident, CII 2022-23

Speaking on Prime Minister Modi's interaction with Chief Ministers on management of the Covid pandemic, Mr T V Narendran, President, CII said, "Hon’ble Prime Minister's strong emphasis on maintaining the momentum of the economy with all due measures to tackle the pandemic is most relevant to minimise damage to livelihoods. He has urged state governments to take local containment measures while considering economic restrictions which is very much in line with CII recommendations. In a recent letter to Chief Ministers, CII had suggested a containment strategy based on micro zones, as small areas demarcated by district administrations, such as mohallas, neighbourhoods, villages, talukas, etc. to monitor and manage the outbreak. By exhorting Chief Ministers to focus on local containment, economic activities will remain protected and jobs will be preserved. CII will continue to stand shoulder to shoulder with the Central and State Governments to battle the pandemic, build healthcare infrastructure and ensure vaccination." 
Mr T V NarendranPresident, CII 2021-22

“Coming close on the heels of the National Infrastructure Pipeline and the National Monetisation Plan, the Gati Shakti vision would underscore the primacy of place accorded by the Prime Minister to develop world class infrastructure facilities which is crucial to improve business sentiment and speed up the country’s vision to emerge as a US$ 5 trillion economy in near future”. 
Mr T V NarendranPresident, CII 2021-22

“The launch of PM Gati Shakti National Master Plan will be a gamechanger for industry and would harness the potential of Industry in line with the PM’s vision of scale and speed. The Plan is laserlike in its makeover of India’s infrastructure and is expected to impart significant impetus to national development”. 
Mr T V NarendranPresident, CII 2021-22

Prime Minister’s Independence Day speech comprehensively outlined a strategic economic vision that embraced various critical sectors of the economy. The proposed Pradhan Mantri Gati Shakti program of Rs 100 lakh crores promises to converge infrastructure, manufacturing and competitiveness to drive India’s future growth and create employment. His words on manufacturing quality to build pride in Indian products were timely with a renewed thrust on the mission.
Mr T V NarendranPresident, CII 2021-22

CII welcomes the launch of e-RUPI, a payment mechanism which looks to ensure that the Government can extend monetary support to citizens without involvement of intermediaries. Also, the part of guaranteeing the payment to the service provider for the services rendered is a step in the right direction. The voucher system will enable all beneficiaries, including feature phone-users, to benefit through this mechanism. It will also be an excellent tool for the corporates, through which they can extend employee and community welfare schemes.
Mr T V NarendranPresident, CII 2021-22

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