The new Government is in saddle with Dr Manmohan Singh as the
Hon’ble Prime Minister. A Common Minimum Programme has
already been decided amongst the coalition partners. The trade
and industry look forward to speedier continuation of reforms for
faster economic growth.

The growing number of unemployed youth in the country is a matter of serious concern with
far reaching socio-economic implications. In Chamber’s submission to the Government we
have suggested a number of measures for generation of employment opportunities.
Construction of roads including rural road network will have a multiplier effect. Promotion of
SMEs and the cluster approach would again help not only generate but also sustain the
employment level. Expansion of irrigation network, harnessing the thermal-hydro-nuclear
power also affords the opportunity of mitigating the hardships industry continues to face as
also create job opportunities. While on the subject I also wish to emphasise that the cost
of power and availability of quality power are the critical factors affecting the competitive
environment that we operate in. A ceiling of Rs. 3 per unit should be promulgated by the
government.

Although the disinvestment programme would witness a change in its course, it is satisfying
to note that there would be a renewed thrust on encouraging the inflow of Foreign Direct
Investment. In this regard the state governments have a crucial role and there is urgent
need to pay greater attention for streamlining the procedures and systems which would
speed up FDI inflows.

In the last number, I had mentioned about the Chamber’s initiative of visiting the states
with the objective of first hand contact with our members and, after due debate, drawing
up sub-regional plans for economic growth. During the last one month I visited the States
of Punjab, Uttar Pradesh and Union Territory of

Chandigarh for formulating state-wise economic development strategies. During my recent
visit to Kanpur, the need for focus on infrastructure development, stable and continuous
power supply was raised to attract large scale industries into the State. Necessary action is
in hand.

The Chamber is also intensifying its effort to interact with both the elected and executive
leadership in our pursuit to highlight the need for proactive action for spurring industrial
growth.

(Ravi Wig)
President