Frugal engineering can drive growth by 9-10%: DIPP Secretary
Updated: Jul 30, 2015 04:08:34pm
New Delhi, July 30 (KNN) Secretary, Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Amitabh Kant said frugal engineering can drive India’s economic growth. He said enterprises have the ability to undertake and must excel, innovate and design to drive its economic growth by 9 to 10 per cent for the next three decades to create employment driven growth.
He was addressing the 7th VLFM Learning Convention (Visionary Leaders for Manufacturing) programme held under the auspices of Champions of Societal Manufacturing organised by Confederation of Indian Industry (CII).
Calling the apex technology and management institutes in the country to document their innovations by patenting them, Kant said that 22 per cent of the patents filed from India are done by Indian companies while 78 per cent were done by multinational companies operating from India.
Citing that services sector contributed 60 per cent of the country’s GDP, he said jobs cannot be created in services, as much as they can be through manufacturing.
“There are huge perils of non-industrialisation for population of the size of India and it will have serious consequences, if manufacturing is not initiated,” said Kant.
Calling for a work-life balance, Secretary, Ministry of Micro, Small Medium Enterprises, Dr Anup Pujari said “India is one of the few countries in the world who publish foreign exchange trade data within 10 days of the ending of the month.”
Chairman, VLFM initiatives and Past President, CII, Venu Srinivasan said outcomes of the VLFM program over the last ten years have been impressive.
“Over 1800 CEOs, SMEs, and senior and middle-level managers have benefited from the program. Over 500 people have gone through the 5 modules of the senior managers course in 9 batches,” he said.
Srinivasan added that Village Buddha program implements holistic village transformation through a systematic approach with 91 visionary leaders from 23 companies being developed with necessary skills and qualities to engage with villages. (KNN Bureau)
He was addressing the 7th VLFM Learning Convention (Visionary Leaders for Manufacturing) programme held under the auspices of Champions of Societal Manufacturing organised by Confederation of Indian Industry (CII).
Calling the apex technology and management institutes in the country to document their innovations by patenting them, Kant said that 22 per cent of the patents filed from India are done by Indian companies while 78 per cent were done by multinational companies operating from India.
Citing that services sector contributed 60 per cent of the country’s GDP, he said jobs cannot be created in services, as much as they can be through manufacturing.
“There are huge perils of non-industrialisation for population of the size of India and it will have serious consequences, if manufacturing is not initiated,” said Kant.
Calling for a work-life balance, Secretary, Ministry of Micro, Small Medium Enterprises, Dr Anup Pujari said “India is one of the few countries in the world who publish foreign exchange trade data within 10 days of the ending of the month.”
Chairman, VLFM initiatives and Past President, CII, Venu Srinivasan said outcomes of the VLFM program over the last ten years have been impressive.
“Over 1800 CEOs, SMEs, and senior and middle-level managers have benefited from the program. Over 500 people have gone through the 5 modules of the senior managers course in 9 batches,” he said.
Srinivasan added that Village Buddha program implements holistic village transformation through a systematic approach with 91 visionary leaders from 23 companies being developed with necessary skills and qualities to engage with villages. (KNN Bureau)
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