Upgraded Infrastructure-resource efficiency vital for positive industrial output: Vice President Naidu

New Delhi, Oct 18 (KNN) Batting for the need of upgradation of infrastructure and technology among the industries comprising of a fair share of the Micro, Small and Medium Enterprises (MSMEs) in the country, Vice President Venkaiah Naidu said that it is imperative to facilitate the upgradation

Vice President Venkaiah Naidu made these remarks addressing the 90th anniversary celebration of Andhra Chamber of Commerce, in Chennai, Tamil Nadu.

The Vice President said that with the world changing rapidly, technological and digital revolutions are in the play. Any nation unable to keep pace with the changes will become a laggard. India is at the threshold of becoming one of the major economic powers and the private sector can play a huge role in accelerating the growth and development of the country.

Commenting on the significance of the industrial sector in the state of Tamil Nadu, the Vice President said that Tamil Nadu is among the States that are in the forefront of industrialization with its industrial contribution in sectors including automotive, leather and textiles industries.

Commenting on the recent reforms in the country including the Goods and Services Tax (GST), Vice President Naidu said that such reformative measures are likely to reap economic benefits in the long run.

Explaining the government’s aim, he said that Government’s Make in India has been launched with a view to increasing the share of manufacturing in the GDP to 25 per cent by 2025.

By doing so, it is estimated that additional employment opportunities to the extent of 90 million jobs will be generated, Vice President Naidu added.

Key government ministers including the Governor of Tamil Nadu, Banwarilal Purohit and the Minister for Fisheries, Personnel and Administrative Reforms, Tamil Nadu, D. Jayakumar were also present on the occasion. (KNN/DA)