IPN Team

Most recent data indicate economic activity is beginning to rebound.  In fact, after 100 days of PM Modi’s Govt., rating firm Maple Craft has ranked India as No. 1 in terms of economic opportunities. Price Water House Coopers have reported that India can grow at 9% to become a $10 trillion economy.

Srinivasan remarked that this perceptible improvement in the economic performance in last few months is a reflection of the improved business environment and market sentiment. This is an outcome of the series of initiatives taken by the new Govt. to bring about positive changes to revitalize the industrial sector in general and manufacturing sector in particular.

Srinivasan informed that Prime Minister Narendra Modi before taking charge in New Delhi, was the Chief Minister of Gujarat, and during his 13 years in power made his home state an industrial leader. Manufacturing sector accounts for 28 percent of Gujarat’s economy, compared with 13 percent for the country as a whole, and a touch less than the 30 percent figure for manufacturing titan China. This is indeed a noteworthy accomplishment.

India has to increase manufacturing and ensure that the benefits reach the youth of the country. India and China had the same GDP and PPP in the 1990s.  Since then China with its huge thrust on manufacturing has become one of the largest economy in the world.  

The ushering in of a robust manufacturing sector is the priority of the Indian Govt.  It has the potential to not only take the economic growth to a higher trajectory, but also to generate employment.  The Govt. is committed to removing all bottlenecks and develop India as a manufacturing hub.  
 

"Make in India" is the government’s mission and commitment and a blue print to turn India into a new global manufacturing hub. The Government would do what it takes to translate it into a reality. With a large primarily young and mostly educated population, India would be an ideal workforce which is skilled and available for hire at a competitive price.
Consul Srinivasan said that the Prime Minister stressed the need for enhancing the purchasing power of the common man, which would boost demand in addition to benefitting investors.  
Cost effective manufacturing and a buyer with a sound purchasing power are complementary for growth and development.   Global opportunities will ensure bringing more people into middle class and investors abroad have to create jobs, which would effectively mean more employment and more purchasing power. 

Consul referred to the Prime Minister’s observation that India ranks low on the “ease of doing business” and emphasized the need for “effective” governance. Missions such as Swachh Bharat and “waste to wealth” could lead to good revenue models for business as well.
The PM has expressed his vision of waste water management and solid waste management in 500 towns across India through public private partnership.  The Government is pushing projects of infrastructure of the future – including i-ways besides highways, port led development, optical fiber networks, gas grids and water grids.

In order to make doing business in India more viable – the government has evolved new de-licensing and deregulation measures to reduce complexity and increase speed and transparency. Keeping in view that India’s manufacturing infrastructure and capacity for innovation is poised for phenomenal growth: new smart cities and industrial clusters are being developed in pre-determined industrial corridors having connectivity, new youth-focused programs and institutions dedicated to developing specialized skills.  The Government in order to improve its infrastructure requirements has set up whopping $ 40 billion fast-tracks in steel projects. 
Government has cleared new Industrial Clusters for promoting advance practices in manufacturing, Approvals accorded to 21 Industrial projects under Modified Industrial Infrastructure up gradation Scheme with an emphasis on use of recycled water through zero liquid discharging systems, Central Effluent Treatment plants. Approvals have also been accorded to 17 National Investment and Manufacturing zones.
On Nurturing Innovation
 – approval for strengthening Intellectual Property regime in the country was offered through: creation of 1,033 posts; further up gradation of IT facilities, compliance with global standards and application processes made online.
Srinivasan said the Make in India program represents a paradigm shift in how India relates to investors: not as a permit-issuing authority, but as a true business partner. Dedicated teams will guide and assist first-time investors, from time of inception. He answered few questions from audience and he asked the gathering to approach the Consulate for any assistance with regard to investment in India.

Earlier, Mustafa Ajmeri, organizer of December IPN meeting welcomed the gathering. Ravi R Ponangi, one of the IPN team members welcomed R. Srinivasan, Consul (POL) of Indian Consulate in Atlanta and informed the gathering that Srinivasan was recently posted to Atlanta consulate from Embassy of India in Addis Ababa, Ethiopia.
Dr. Narsi proposed concluding remarks and thanked the consul, Srinivasan for accepting the invitation at short notice and taking time to explain about Make in India initiative and opportunities in manufacture sector in India.
Dr. Narsi also informed that IPN was founded in 1993 and offers an excellent networking opportunity to all sections not only to Indian community but also to other nationals living in and around Atlanta. He said all are welcome and exhorted the members to come forward to organize monthly meetings. IPN does not have membership fees and everyone is welcome. Each monthly meeting is organized by a different volunteer leader. In 2014 IPN in its monthly meetings has so far hosted highly-informed and knowledgeable speakers.