New Delhi, Mar 20 (KNN) Voicing concerns surrounding India’s Trade Prospect globally, Chairman of the Economic Advisory Council to the Prime Minister (EAC-PM) and Member NITI Aayog Dr. Bibek Debroy said that the stakeholders must work holistically.

In the 87th Annual General Meeting of ICCI India, an affiliate body of FICCI, Debroy made the statement that India’s trade prospects conditional on the efforts taken in direction of improvement of logistics, integrate investments in the global supply-chain, improvement in creating a right business environment and infrastructural development.

Addressing the occasion, he said the attempts being made by the government to raise GDP growth could be seen in its endeavour to provide a minimum basket of basic goods and services to every citizen, creating an enabling environment for businesses and directing subsidies to the intended beneficiaries.

These non-populist measures do not give instant pay-offs. The reforms being ushered in are fundamental in nature and will require time to bear fruit in terms of improvements in GDP and productivity.

Referring to the increasing inward-looking and populist policies in various parts of the world along with prevailing geopolitical tensions, Subhrakant Panda, the outgoing President of ICC India, said that need of an hour is that all the stakeholders including businesses needs to play a more constructive in promoting a more collaborative economy along with that acknowledging different perspective and ideas of nations.

Though recent initiatives of the government are in direction of accelerating growth but there are some areas of concern which needs attention like inter alia, reforms in Labor laws, taxation, infrastructure and re-skilling and skill development, he added. (KNN/YV)