Put manufacturing back on track to sustain export & economy, industry tells new govt

New Delhi, May 17 (KNN)  Even as industry bodies welcome the landslide victory of the BJP, they have high expectations from the new government which they believe should focus on manufacturing and infrastructure to support exports, while providing a proactive and stable policy environment.    
 
“The new Government will have to bring manufacturing back on track to sustain export and economy…it has to address infrastructure bottlenecks to impart competitiveness to exports,” said President, Federation of Indian Export Organisations (FIEO), M Rafeeque Ahmed.
 
Echoing similar sentiments, President of Industries Association of Uttarakhand (IAU), Pankaj Gupta said, “We are entering a new era of high hopes and expectations, and we are confident of them being fulfilled.”
 
Meanwhile, President, Mysore Industries Association, Vishwanath P seemed confident that the BJP led government will help in the growth of industry across the country and thereby the growth of GDP, while strengthening the economy. 
 
“We are confident his government will take steps to control corruption and punish those who have violated the procedure which resulted in loss to the government. We look for a positive government, development oriented government, working government, and a communicative government which will talk to the nation at-least once in a month about their plans and their expectations from the public for the good of nation,’ Vishwanath said. 
 
Most industry bodies are keening looking forward to labour reforms and a major boost to manufacturing.

“We expect that the Modi Government will be able to take some bold decisions regarding labour reforms which will ultimately benefit the Indian workforce and create new employment,” said Engineering Export Promotion Council (EEPC) India Chairman Anupam Shah.

The chairman of the apex body of engineering exports said Indian exports, with 45 per cent contributions from the MSME sector, have been languishing for the last few years and they expect some key decisions from the new government in the coming foreign trade policy.

“We also expect a significant improvement in the quality of governance, that will in turn reduce transaction cost of Indian exporters and make them competitive in the world,” he added.