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CII pegs India’s GDP growth at 7.3-7.7% for 2018-19 (Lead)
New Delhi, April 12 (IANS) The Confederation of Indian Industry (CII) said on Thursday it expects India’s gross domestic product (GDP) to grow at 7.3-7.7 per cent during the 2018-19 financial year.
“This is based on strengthening demand in the rural economy, including agriculture and non-farm activities, as well as better global growth climate,” CII President Rakesh Bharti Mittal said.
“There are some macro challenges like rising oil prices, but that would be more than compensated by improving industrial performance,” he added.
Sector-wise, the CII projected 2.5-3.5 per cent growth for the agriculture sector, 7.2-7.5 per cent for the industrial sector and 8.4-8.7 per cent for the services sector, with “construction” and “trade and repairs” to lead.
“In the industrial sector, I anticipate, as we go forward, consolidation. Demand is clearly picking up … I think on the back of another normal monsoon which is being expected or projected,” said Mittal, who is the new CII President for 2018-19.
“I believe that the rural consumption will go up and that will help the industry in getting back investments into the manufacturing sector, and, as a whole, the manufacturing activities could go up to 7.2-7.5 per cent,” he said.
According to Mittal, although the country’s economic outlook was robust, risk factors remained like quality of public finances which may have an adverse impact on private investment, investment rate below 30 per cent, rise in crude oil prices and rising international protectionism.
Mittal said the CII had evolved a strong agenda for industry for the year 2018-19 under the theme of “India RISE: Responsible. Inclusive. Sustainable. Entrepreneurial.”, which dovetails with the government’s priorities as per the reforms already completed.
Elaborating on the CII theme, Mittal outlined 10 new CII initiatives under the India RISE theme like voluntary corporate governance codes for large enterprises, small and medium enterprises and financial sector; promotion of healthcare under Ayushman Bharat scheme; six new Model Career Centers to be set up to assist seamless connect of employment and employees; and launch electric vehicles mission and promotion of green buildings.
Other initiatives include a pilot project for strengthening Grameen Agricultural Markets (GrAM) and a logistics corridor for perishables in southern states; capacity building of Farmer Producer Organisations and mentoring agri start-ups in line with mission of doubling farmers’ incomes; CII-Niti Aayog India Innovation Index to rank states’ innovation ecosystems; and a task force on reducing air pollution in Delhi NCR.
Three new international offices in the emerging economies of Myanmar, Vietnam and Indonesia; and focus on the northeast and backward districts for skill development, nutrition and investment promotion, are among other initiatives.
The CII was also taking up new competitiveness services for assisting industry to adopt digital transformation and align with Industry 4.0 technologies, said Mittal.
“The Digital Transformation Center of Excellence in partnership with Tata Communications will promote Digital India,” the CII President said.
The CII’s Future Business Group was a new initiative to handhold promising enterprises to achieve global scale, he said.
Mittal mentioned that another initiative of the CII was the launch of “export certifications”, which would help enterprises to align with the demands and quality standards of global markets.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.