Economic reforms should result in tangible benefits for people: President
Updated: May 02, 2013 03:04:36pm
New Delhi, May 2 (KNN) Increased trade liberalization and economic cooperation would not count much unless they result in tangible benefits for our people, said President Pranab Mukherjee at the Golden Jubilee Ceremony of the Indian Institute of Foreign Trade (IIFT) today.
Hence, thrust should also be placed on meeting other objectives like employment generation and regional development, he stated.
“He emphasized that our export sector should be able to drive the socio-economic development of our country,” said an official release quoting the President.
He called for increasing exports to bring down the Current Account Deficit which was 5.4 per cent of GDP during April to December 2012.
“A matter of concern is the current account deficit, which at 5.4 per cent of GDP during the period April to December, 2012 is very high. Though we have managed this deficit through capital flows, we have to increase our exports to bring it to a sustainable level,” he said.
Further, increased integration of our economy with that of the world calls for managing our economy from the risk of any global financial crisis, he said, speaking at the IIFT auditorium.
The President also commended IIFT for its enormous intellectual contribution to foreign trade and international business. IIFT, he was confident would continue to impart relevant training and undertake intellectually sound research in the field.
Also present on the occasion was Union Minister for Commerce, Industry and Textile, Anand Sharma who released the commemorative volume of Foreign Trade Review and presented its first copy to the President.
Minister of State for Commerce and Industry D Purandeswari, Chairman IIFT and Secretary, Commerce S. R. Rao and Director, IIFT Surajit Mitra were also present. (KNN)
Hence, thrust should also be placed on meeting other objectives like employment generation and regional development, he stated.
“He emphasized that our export sector should be able to drive the socio-economic development of our country,” said an official release quoting the President.
He called for increasing exports to bring down the Current Account Deficit which was 5.4 per cent of GDP during April to December 2012.
“A matter of concern is the current account deficit, which at 5.4 per cent of GDP during the period April to December, 2012 is very high. Though we have managed this deficit through capital flows, we have to increase our exports to bring it to a sustainable level,” he said.
Further, increased integration of our economy with that of the world calls for managing our economy from the risk of any global financial crisis, he said, speaking at the IIFT auditorium.
The President also commended IIFT for its enormous intellectual contribution to foreign trade and international business. IIFT, he was confident would continue to impart relevant training and undertake intellectually sound research in the field.
Also present on the occasion was Union Minister for Commerce, Industry and Textile, Anand Sharma who released the commemorative volume of Foreign Trade Review and presented its first copy to the President.
Minister of State for Commerce and Industry D Purandeswari, Chairman IIFT and Secretary, Commerce S. R. Rao and Director, IIFT Surajit Mitra were also present. (KNN)
Loading...
