NEW DELHI: Impressed by the growth of the Indian information technology (IT) and telecom sectors in recent years, Prime Minister Dr. Manmohan Singh said that the time has come to facilitate the growth of electronics, IT and telecom hardware industries.
He added, “I have constituted a Task Force to focus on the growth of electronics and IT hardware industry. To maintain the vibrancy of the telecom sector, we have set up a Group of Ministers to enable early vacation of spectrum by existing government users. We hope to make this capacity available for commercial use in a time bound manner.”
Dr. Singh was delivering the inaugural keynote address at the Annual Conference of the Confederation of Indian Industry (CII) on 'Sustainable Competitiveness: Fostering Development' in New Delhi.
With India on its way to sustain the current economic growth rate of around eight per cent, Dr. Singh expressed hope to target a rate of 10 per cent growth per annum.
He added, “However, we face the challenge of making our growth process more socially and economically broad based. Unless we are able to take development forward in a broad based manner, investing in social and economic infrastructure and in human capabilities, we cannot build a more competitive economy.”
Dr. Singh further stated, “For balanced and all-round development and also to sustain higher growth, both agriculture and manufacturing need to grow in tandem.
Only the manufacturing sector can provide jobs that are required to absorb the vast number of our people who will need to move out of agriculture. We need a credible macroeconomic environment, better infrastructure and a supportive political and social environment, to sustain higher rates of industrial growth.”
Dr. Singh also launched a website for promoting the skills of artisans in North East India. A joint effort of CII and North Eastern Development Finance Corporation Ltd., Govt. of India (NEDFi), the purpose of this website is to establish a sustainable marketing channel for the handloom and handicraft products of the North East India and to provide craftsmen with a steady source of livelihoods.
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