“India has lot of potential.Its economy is set to become a $4-5 trillion economy in the next 10-12 years from $ 2 trillion at present. India is expected to become third biggest economy in terms of Purchasing Power Parity by 2030 and soon, the economy will witness double digit growth. In the last quarter, India’s GDP growth has crossed that of China,” stressed Mr. Ajai Sahai-DG & CEO, FIEO while addressing Amity students during the MoU signing ceremony between Amity and FIEO.
Sharing his concern, he expressed, “the prospects come with challenges and the biggest challenge before India, at present, is Inclusive growth; benefits of economic reforms have not passed on to the poor in the society and therefore, there is resistance to reforms in the country which is not good. The urban-rural divide is increasing which is threatening the social fabric of the country. India accounts for 1/6th of world population and at the same time, ¼ of world’s poor live in India. There are 270million people who are below the poverty line, which is 22% of India’s total population.37% of world’s illiterate live in India. Though, we may be “Super Economic Power” but we cannot be a great nation unless we eliminate people below the poverty line and convert these illiterates into literates.”
Suggesting ways to grapple with the growing challenges, Mr. Sahai stressed, “Healthcare needs to be provided to everyone in the country and Healthcare Budget has to be increased from 3% of the GDP.Community support is needed to steer this problem.” He proposed that education should be made vocational and skill oriented since Industry has already beenraising concerns about the lack of employability of Engineers, Medical andManagement professionals. He further opined that professors and teachers shouldbe the best paid in the country since they are rearing a generation and unlessthe best people are brought in education sector, the sector cannot witness abright future.
Emphasizing on bolstering the Manufacturing sector in the country, Mr. Sahai further stressed that Manufacturing has to be made competitive in India since Indian manufacturers face competition fromdomestic as well as International players. He called for improvising the infrastructure and logistics such as Railways, Roadways, Power, Telecom and other related areas. He stressed that China has progressed so much due to its robust infrastructure.
Welcoming the distinguished guests, Prof. (Dr.)Gurinder Singh, Amity Group Additional Vice Chancellor said that Indian economy is growing robust and is all set to overtake China in few years and fort hat Indian Exports have to grow. The export potential and related strategies of China are looked upon by all the countries and to some extent its export surplus could be attributed to “Creativity and Innovation” and “Cost Competitiveness” of Chinese goods. Keeping this in view, Amity has beenoffering 3 Continent and Dual Degree Programmes which give students an opportunityto study other countries, their competitive factors and could, thus, help increating a better model of economic growth in India.
TheMoU was signed between Prof. (Dr.) Gurinder Singh, Amity Group Additional ViceChancellor and Mr. Ajai Sahai-DG & CEO, FIEO in the presence of Mr. Ashish Jain, Director, FIEO, Ms. Nirmala Tete, Joint Director, FIEO; Prof. W Selvamurthy- President Amity Science, Technology and Innovation Foundation; Dr. Ajit K. Nagpal is the Chairman of Amity PACIFICForum and Prof. Bhawna Kumar, VP, Ritnand Balved Education Foundation.
FIEO-Amity Centre of Excellence for Export Enhancement, launched as part of the MoU, will facilitate Joint Training Programmes, Certificate & Diplomas Courses, Joint Reports & Publications, Joint Consulting Assignments and Joint organization of annual Events, Workshops & Seminars. Amity, as part of MoU will set up dedicated Innovation Incubators at its campuses to provide all the necessary support, encouragement, motivation and resources to the budding entrepreneurs in the Indian export sector.