PM’s reassurance will allay industries’ concerns: Assocham

LUCKNOW: Prime Minister Narendra Modi’s reassurance to the industry will not only allay industries’ concerns but also help in the country’s inclusive and sustained growth, according to industry lobby group Assocham.

“The prime minister’s reassurance to the corporate sector will boost confidence,” Assocham president Sandeep Jajodia said on Monday.

“Engagement with industry will pave the way for large investments in diversified sectors, spur job creation, promote rapid industrialisation and infrastructure development in Uttar Pradesh,” he said in a statement. His remarks came a day after the prime minister reached out to the business community at an event here, looking to reassure industrialists that they have a significant role to play in nation building.

Jajodia also suggested the UP government to form an interministerial committee to take stock of the progress in investment proposals attracted by the state in investors’ summit held earlier this year. “A task force may be constituted to review the status of implementation of the investment projects as actual benefits of an investment are only derived upon completion,” he said. Such an initiative would further repose business community’s trust in the government and help the state in attracting private investors, he said.

Assocham also suggested UP government to conduct countrywide road shows to draw large pool of investments and simultaneously keep monitoring on-ground implementation of projects to create employment opportunities for youth of the state. “The state government should further strive to improve the industrial and business ecosystem to come on a par with states like Gujarat, Odisha, Maharashtra and others,” said the Assocham president.