Key Points
CAIT recommends structured economic plan for Delhi
Proposed council aims to generate new employment opportunities
Council would include government officials and trade experts
Seeks to address decade-long economic policy gaps
The proposal was made in a letter addressed to the Chief Minister, emphasising the urgent need for a structured economic plan for the city.
In his letter, CAIT Secretary General Praveen Khandelwal pointed out the lack of significant economic and trade policy initiatives in Delhi over the past decade.
"This has led to challenges for businesses, industries, and the service sector," he said.
The establishment of the Economic Development Council would help in generating new employment opportunities and positioning Delhi among the leading global cities, Khandelwal added.
The CAIT official referred to a recent report by Keshav Verma, Chairman of the Central Government's High-Level Committee on Urban Reforms, which recommended the establishment of 'City Economic Development Councils' in major cities for economic self-reliance.
The Ministry of Finance is currently reviewing these suggestions. Khandelwal emphasised the need for planned urban development, stating that the expansion of Delhi had occurred without proper planning, limiting the city's economic potential.
Khandelwal proposed that the Economic Development Council should consist of senior government officials, trade bodies, industrial associations, and urban experts.
"This would ensure that policies are grounded in reality and effectively implemented," Khandelwal said.
He also affirmed the full support of Delhi's trading community, saying, "We stand firmly with the Delhi Government and are committed to making Delhi the economic capital of India."
Meanwhile, the trade association said on Sunday that Indian traders have decided to sever all trade relations with Pakistan in response to the terrorist attack in Pahalgam, Jammu and Kashmir, which is believed to have been sponsored by Islamabad.
The decision was made during the National Governing Council meeting of CAIT, attended by trade leaders from 26 states in Bhubaneswar.
The resolution condemns the attack and calls for a complete boycott of trade relations with Pakistan.
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