Manufacturing Sector To Boost Make In India Plan, Says Anurag Batra

The manufacturing sector will drive and fuel the initiative of the Narendra Modi-led NDA government's Make in India campaign, said Anurag Batra, chairman & editor-in-Chief of BW Businessworld, at an ICAI event in New Delhi on Friday (December 18).

The Institute of Cost Accounts of India (ICAI) organised a day seminar on the role of cost accountants in the government's Make in India initiative.

The ICAI is the preferred source of resources and professionals for the financial leadership of enterprises globally. It drives enterprises globally by creating value to stakeholders in the socio-economic context through competencies drawn from the integration of strategy, management and accounting.

On the occasion, Minister of State for Textiles, Santosh Gangwar, said, "Cost accountants need to known in India and especially among the various ministries as we need to manage our assets and resources. India would soon stand among the top five countries of the world by 2020."

He also said that opposition is blocking the passage of Goods and Services Tax (GST) and also hampering the regular proceedings of Parliament.

In his special address, Batra said, "I would like to compliment ICAI for its contribution towards the country. We must give some time for the Modi-government to perform and in this process, we need to be patient."

Services sector dominates our Indian economy and now it's the time for manufacturing sector to take the leap forward. It's ultimately the manufacturing sector which will fuel the PM's ambitious initiative of Make in India, Batra added.

Manufacturing industry only contributes 18 per cent to the Indian economy, he said.

He also pointed the efforts which ICAI have been doing over the years. "ICAI should work as an incubator and facilitator for the start-ups and they must come forward to promote them. Each ICAI member must take the responsibility of making five start-ups and encourage entrepreneurship," added Anurag Batra.