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Collaboration key to recovery: Hamid Ansari

Posted on Jan 28, 07:00PM | IBNS

Vice President Hamid Ansari on Monday said global cooperation and collaboration are key to economic recovery.

"It is imperative that the world economies work in tandem to prepare a roadmap for economic recovery, wherein they leverage each other's strengths and comparative advantages to create a new economic world order," said Ansari while inaugurating the 19th CII Partnership Summit organized by Confederation of Indian Industry (CII) in association with the Ministry of Commerce and Industry, and Uttar Pradesh as the Partner State.

"Innovation and creativity will play an important role in reviving growth in the emerging economies for better utilization of the limited resources," said Ansari.

To address the challenges of poverty alleviation and socio-economic development, Ansari emphasized: "The challenge before us now is to put back the Indian economy on high growth trajectory. This is critical to generate additional employment opportunities essential for achievement of broader agenda of sustainable and inclusive growth."

Union Commerce, Industry and Textiles Minister and Summit Chairman Anand Sharma said: "Forging regional and global partnerships between the developed, developing and emerging economies is the key to a sustainable growth, secure the present and leave a legacy for a better future."

He, however, expressed concern over the slow pace of economic recovery and suggested to adapt the path of high growth.

According to Sharma, "Youth unemployment and unemployability is the biggest worry and within a decade, there would be requirement for creating 600 million jobs globally. Thankfully, National Manufacturing Policy ( NMP) would help to create 100 million skilled jobs within a decade, thereby helping to address the issue of unemployment."

"We are really focused towards development of the Manufacturing sector. Thrust towards manufacturing sector would not only help raise share of manufacturing in India's GDP, but would also make India one of the manufacturing hub in the 21st century and help in employment creation," he said.

Elaborating upon the economic prospects of Uttar Pradesh, Chief Minister Akhilesh Yadav assured to create enabling policy regime to attract investment and a facilitating bureaucracy to help industry.

He reinforced that a thriving manufacturing sector can provide alternative employment and would help to address the issue of regional imbalance.

In this context, he proposed to invest in product specific industrial infrastructure and setting up national manufacturing investment zones.

Referring to the theme of the Summit, Adi Godrej, President CII, and Chairman, Godrej Group, in his opening remarks said that the theme rightly recognizes the aspiration of attaining global growth through seeking global partnerships.

He said: "We are at a critical juncture when importance of outward orientation and strategic reforms can not be underestimated."

In anticipation of successful outcome of this Summit, he said that new ideas and meaningful discussions would help to draw upon strategy to realize objective of a more enduring and inclusive development.

Earlier, while giving welcome remarks, Ajay S Shriram, Vice President, CII, and Chairman and Senior Managing Director, DCM Shriram Consolidated Limited, outlined the overall objective of the Partnership Summit and stressed that that this platform present with the unique opportunity to build new bridges of strategic partnerships.

Delivering the closing remarks, S Gopalakrishnan, President Designate, CII, and Executive Co-Chairman, Infosys Limited, suggested to re-examine the role of advanced and emerging countries, in the current scenario when trade, investment and businesses are the main driving forces for growth.

The 19th CII Partnership Summit started on Monday at the Historic city of Agra, which is on till Tuesday.

The Summit would witness participation of 22 International Ministers, around 300 international delegates from USA, Italy, Australia, Canada, Japan, Korea, Singapore, Slovenia, Russia, Saudi Arabia, Netherlands, China, Pakistan etc.

It would also have around 20 international speakers addressing from Australia, France, Singapore, etc.

There would be 63 International Diplomats like Economic Counselors, Ambassadors, High Commissioners and Commercial Counsellors.