On Wednesday, March 19, leading industry body Confederation of Indian Industry (CII) said that six per cent of the country’s GDP should be spent on the education sector.
CII president Sanjiv Puri said that India’s projected 6.5 per cent growth rate is a reasonable expectation.
As a major hub for global capability centres (GCC), India is well positioned to drive growth, Puri said at an event in Kolkata.
“Six per cent of the national GDP should be spent on the education sector,” Puri, also ITC chairman and managing director, said.
He said there is a need for free trade agreements (FTAs) and streamlining tariff structures.
“The FTA with the EU holds significant importance for India and more such agreements with other countries are expected to be in place soon,” Puri said.
Achieving an eight per cent growth rate requires activation of all sectors of the economy, like agriculture, services and manufacturing, he said.
Revival of the manufacturing sector is essential, along with increased momentum in labour-intensive industries, Puri said.
Enhancing the competitiveness of MSMEs should be a key priority, he added.
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