“The vision for India 5.0 is an aspirational India, beyond a satisfied India. Everybody together as team India is poised towards a stronger, better and healthier India” stated Mr. Durga Shankar Mishra, Secretary, Ministry of Housing and Urban Affairs at CII’s Annual Session 2019. He was speaking at the special session “India 5.0: India@75 and beyond”. Mr. Mishra added that there was a need to accelerate the growth rate beyond 7% for India to become a US$10 trillion economy in the future and one of the top 3 countries in world.
Mr. Mishra stated that “cities are the engines of economic growth” and the performance of cities was crucial for sustainable development. He further added that urbanization in India is happening at a rapid pace and that by 2051, the population residing in urban areas will exceed the current population of the country. While highlighting the challenges for India 5.0, Mr. Mishra stated that ‘Housing for all’ and sanitation will remain key challenges and further measures will need to be taken up.
Mr. P Raghavendra Rao, Secretary, Department of Chemicals & Petrochemicals, Ministry of Chemicals and Fertilizers, while speaking at the session stated that the “growth rate of 7% for India is commendable”, given that many industrialized countries in the world are growing at the rates of only 2 or 3%.
He added that several Government initiatives such as Make in India, Smart Cities etc. will stimulate growth and provide a boost to sectors such as construction and electronics, all of which will result in higher demand for the chemicals and petrochemicals sector. He further stated “Indian Chemicals Industry is expected to grow more than 9%”, for which there was a need to step up investments.
Mr. Amit Khare, Secretary, Ministry of Information & Broadcasting, stated that the Indian Media and Entertainment Sector, which is growing at a CAGR of more than 11%, has the potential of projecting India abroad as a strong, progressive country. He further stated that the role of the Government should be as a facilitator in the sector, intervening and supporting the private initiatives. An inclusive and progressive policy environment, ease of business and self-regulation beyond monitoring should be the other areas of focus for the Government, he added.
Mr. Chandrajit Banerjee, Director General, CII, while introducing the speakers asked them to dwell upon “what would be the agenda of the new Government that will come into power, the first 100 days agenda and how to realize the ambition of India for 2022 and beyond”.
5 April 2019
New Delhi