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Technology, Ease of Doing Business Will Help Achieve 8% Growth, says Nirmala Sitharaman

Press Trust Of India

First published: October 6, 2016, 12:07 PM IST | Updated: October 6, 2016
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Technology, Ease of Doing Business Will Help Achieve 8% Growth, says Nirmala Sitharaman
File photo of Minister of Commerce and Industry

New Delhi: Use of technology, transparent processes and ease of doing business will help India pull off 8 per cent growth over the next couple of decades, the government said on Thursday.

Commerce and Industry Minister Nirmala Sitharaman said states are also working in concert with the Centre in this regard.

"It (8 per cent growth) is achievable and with this commitment, the government is working. And across the states, we find that urge now that they want to get out of the rigmarole and see brighter ways," she said here at the India Economic Summit jointly organised by CII and WEF.

According to the minister, awareness about the issues and difficulties on which the Centre and the states need to work is helping politically too.

"... the kind of issues on which we have to come together and get over the difficulties are actually helping politics. If only you succeed in removing these obstructions and if you are committed to moving forward on using technologies, making sure transparent processes are established, I can see that 8
per cent growth is moving. So, it is achievable," she asserted.

She further said the government is working on three important pillars, including the goods and services tax, JAM (Jan Dhan, Aadhaar and Mobile) and ease of doing business to promote growth and investments.

The government is using technology to remove corruption and bring in transparency, the minister said, adding that "we need to work harder and we need to take the states on board and we are working together".

In the next 4-5 months, "our attention would be to work together with them, take out all those which are
obstructionists and ensure businesses feel far more assured that the ease is actually coming in".

FDI is coming in, "but we have to translate that into meaningful investments and rapidly get them on to translate into job creation... so, these are things on which we are working," Sitharaman said.

"There is a comprehensive agenda of work which is pending, which is ongoing but more to achieve. So, there are going to be an inter-ministerial work assessment and also ensuring work moves fast. The inter-ministerial will also be happening just to ensure this goal is achieved."

She added that South and South-East Asia are going to be the engine of growth for the world.