The Telegraph
Since 1st March, 1999
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Core sector growth on WEF summit radar

New Delhi, Nov. 20: Participants at the 19th India Economic Summit that begins on Sunday will discuss blueprints focusing on India’s infrastructure, corporate social responsibility, ICT sector and agriculture.

The forum is expected to see outcome-oriented discussions to propose concrete and meaningful proposals to enhance India’s competitiveness in achieving the 8 per cent growth set during the summit last year.

The theme of the three-day summit is “Enhancing India’s competitiveness: A must for growth”. The programme is supported by the department of industrial policy and promotion in the commerce ministry.

Briefing mediapersons, Colette Mathur, WEF’s director for India and South Asia, said that last year Confederation of Indian Industry and WEF had identified six pillars critical to India’s targeted growth rate. These were economic reforms, financial services, exports and FDI, geo-political, manufacturing and energy sector.

In a survey conducted as a run-up to the summit, respondents were of the view that India’s growth and competitiveness had increased over the last two years.

The survey also “gives a thumbs-up” on India’s performance at Cancun and the Made-In-India show, which emerged as a strong brand.

However, the survey indicates slow growth in infrastructure, which is an impediment in India’s overall growth.

Respondents to the survey feel that the government should continue with its disinvestment policy, especially in the oil sector.

CII and WEF are also jointly organising a brain-storming session with non-resident Indians on the first day of the forum. The third meeting of the ‘India advisory council’ will be another highlight at the India economic summit.

The council has been formed by CII and WEF and consists of CEOs from India and abroad providing framework for consultation and engagement of activities relating to India.

Over 400 business leaders from 20 countries are likely to participate in the summit. A number of ministerial and senior government officials will also be a part of the show.

These include finance minister Jaswant Singh, Yashwant Sinha, minister of external affairs, Arun Jaitley, minister of commerce and industry, Arun Shourie, minister of information technology, communications and disinvestment and . K. Singh, member, Planning Commission.

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