CII`s Agra meet looks at post-WTO scenario
Vishal Sharma
Agra. As India gears up to embrace WTO recommendations on economic and industrial reforms, industrialists of Uttar Pradesh are strengthening themselves against the competition they may face once the Indian market becomes open for all.
To discuss this post-WTO change in the Indian economic structure, the UP government held a seminar with the National Chamber for Industries and Commerce (NCIC), UP, and the Confederation of Indian Industry (CII), in Agra on Saturday.
Delivering his inaugural address in the seminar, NCIC President Rajiv Gupta said Indian industrialists had become habitual of being in a “protected” and subsidised economy that was immune to changes in the world economy, and, as a result, industrial growth in India had not been as high as would have been expected in an open economy.
But, he said after WTO recommendations were adopted in India, Indian industrialists would have to face tough competition coming in from the outside and the slow take-over of the glass industry of Firozabad by cheap Chinese glassware was probably one of the best examples of this. In the long run, he said, only the products that were superior quality-wise would be able to survive in this competitive market.
According to Gupta, this change will ultimately lead to the complete make-over of the market in the country and the indigenous industries would be able to prosper only if they too, targeted the international market, instead of remaining confined to the domestic market like other multinational companies.
Small-Scale Industries and Export Promotion Secretary V P Singh highlighted the work being done by the state government on export promotion. He said the state government was planning to forward a project for the creation of a special economic zone for the leather and handicrafts industry in Agra to the Union Government, while efforts would also be made to provide some protection initially to the small-scale industries of the state against the massive FDI inflow that could be naturally expected after the WTO recommendations were adopted by the country.
The seminar was also addressed by CII Director Priya Priyadarshini, and CII Co-ordination Cell Chairman Manoranjan Kanchhal.
To discuss this post-WTO change in the Indian economic structure, the UP government held a seminar with the National Chamber for Industries and Commerce (NCIC), UP, and the Confederation of Indian Industry (CII), in Agra on Saturday.
Delivering his inaugural address in the seminar, NCIC President Rajiv Gupta said Indian industrialists had become habitual of being in a “protected” and subsidised economy that was immune to changes in the world economy, and, as a result, industrial growth in India had not been as high as would have been expected in an open economy.
But, he said after WTO recommendations were adopted in India, Indian industrialists would have to face tough competition coming in from the outside and the slow take-over of the glass industry of Firozabad by cheap Chinese glassware was probably one of the best examples of this. In the long run, he said, only the products that were superior quality-wise would be able to survive in this competitive market.
According to Gupta, this change will ultimately lead to the complete make-over of the market in the country and the indigenous industries would be able to prosper only if they too, targeted the international market, instead of remaining confined to the domestic market like other multinational companies.
Small-Scale Industries and Export Promotion Secretary V P Singh highlighted the work being done by the state government on export promotion. He said the state government was planning to forward a project for the creation of a special economic zone for the leather and handicrafts industry in Agra to the Union Government, while efforts would also be made to provide some protection initially to the small-scale industries of the state against the massive FDI inflow that could be naturally expected after the WTO recommendations were adopted by the country.
The seminar was also addressed by CII Director Priya Priyadarshini, and CII Co-ordination Cell Chairman Manoranjan Kanchhal.
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