Telangana: The Confederation of Indian Industry (CII) has laid out a 10-point road map to revive growth and navigate the challenges of loss of lives and livelihoods posed by the global pandemic COVID-19 that has forced countries across the world to reset their growth paths. CII’s new theme for 2020-21 Building India for a New World: Lives, Livelihood, Growth was unveiled by the newly elected president Mr Uday Kotak at a press conference held virtually.
Emphasizing on the imperative to bring back growth, the CII President said, “Growth is a necessity that should lead to the creation of more jobs while CII works as a knowledge partner with the Government for building self-reliant and competitive India that is deeply engaged with the World”.
CII’s press conference comes a day after its special Annual General Meeting held, for the first time, on a virtual platform, as CII commemorates and celebrates 125 years. Prime Minister Narendra Modi, who was the chief guest, inaugurated the AGM and laid out his expectations from CII and industry to get back growth.
COVID-19 has changed the status quo of the World and we need to focus our energies to manage growth, lives, and livelihoods while considering the challenges associated with life after COVID Mr. Kotak said while presenting the following 10-point roadmap to revive growth in the post COVID world. “We are in uncharted territories and are grappling to find new ways to brave the changes. But we are confident of the resilience of the Indian industry and its innovative skills to beat every such challenge,” he said.
The ten point road map includes Protecting lives and livelihoods, Prioritisation of Healthcare and Education, Mother nature, fiscal deficit and financial stability, among others.
India, like many countries, is facing the challenge of saving lives and livelihoods. As India restarts, Centre, State and local authorities must work together to ramp up testing infrastructure along with robust identification of containment zones and an agile health and safety response to control the spread.
As 80% of the employment is in the unorganised sector with no social security, addressing the protection of livelihoods will need measures to increase formalisation of employment through labour and regulatory reforms which would also encourage businesses to move towards the formal sector. The government has announced that labour reforms would be brought in the coming days. Some states have already announced new labour laws in the states.
The industry will need to work in partnership to help create more jobs while bringing in more of the workforce under the formal sector. The pandemic heightened the need for a robust healthcare system on the same strategic priority as a defence. India’s public health spending at 1.3% of GDP calls certainly for higher investment in public health. ]
Ratna Chotrani