Focus on ASEAN, says Joshi at Horasis meet
The Indian Defence sector exports rose to Rs.10,745 crore in 2018-19 covering 42 countries, up from Rs.1,521 crore in 2016-17, according to Dinesh Joshi, Chairman and Managing Director, SatyaGiri Ventures.
“This sector was fully dependent on import but now we export defence equipment’s to 42 countries,” he told the first-ever Virtual Horasis Asia Meeting 2020 held on 1 Dec 2020.
“India should look at the ASEAN region to expand its trade which can reach US$300 billion soon,” he said.
Meanwhile, a call was made for funds and investments for the MSME sector which has the potential of developing 50 million skill jobs in next 5 years.
Making the call, Anant Singhania, CEO of JK Enterprises, stressed that Government spending is essential to stimulate the economy, increase jobs and shall lead to increased demand for goods and services,
“These timely steps will be required to Reboot, Reform & Resurge the Indian economy,” said Singhania at the meeting organized by the global visions community, Horasis, in association with IMC Chamber of Commerce and Industry.
“While economic signals are encouraging, we do need to acknowledge the unknown risks from a potential second wave of COVID infection, as seen in most countries in Europe, and also the impact from dislocations in supply chains, labour market, as well as consumer behaviour on account of the lockdown impact,” said Rajiv Podar, Managing Director, Podar Enterprise.
“Our target is to take the MSME contribution to the economic growth from 30% to 40% and also increase the MSME export from 48% to 60%,” MSME Minister Nitin Gadkari told participants at the meeting.
Participants, who heard 400 speakers, agreed to join hands and to cooperate – in the spirit of true multilateralism and public-private partnership, said Frank Jürgen Richter, Chairman of Zurich-headquartered Horasis.
Launched in 2016, the annual Horasis Asia Meeting is one of the world’s preeminent discussion forums, offering an ideal platform to explore and foster cooperation, as well as promote investment and sustainable growth across Asia. Taking place amid the COVID-19 pandemic, the event was entirely virtual for the first time in its history. #investment #manufacturing #exports #development #skill #technology /fiinews.com
