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MUMBAI: CNBC-TV18, India's leading business medium and Confederation
of Indian Industry (CII) have joined hands to promote the 'India
Economic Conclave 2006' presented by the Bank of Rajasthan. The
India Economic Conclave is an annual event hosted by CNBC-TV18,
which brings the top thinkers in the corporate world on a common
platform to brainstorm on issues plaguing India Inc and suggest
an appropriate course of action. The theme for the Conclave this
year was ' Breakthrough Ideas to Attain 10% GDP'
 The
India Economic Conclave 2006 integrated two interactive panel discussions
'AIMING FOR 10% GDP - What needs to be done: The Role of the Government,
Industry and Consumer' and 'Out of the Box Ideas for Double Digit
Growth'. Moderated by Senthil Chengalvarayan and Shereen Bhan, the
conclave deliberated on innovative and revolutionary ideas that
could propel India into the next paradigm of growth in the Infrastructure,
Manufacturing, Agriculture and Services sectors.
Speakers at the two sessions included corporate and government
leaders like Mr Jyotiraditya Scindia, Loksabha MP – Congress,
Mr. Ajay S Shriram, Chairman and Senior Managing Director - DCM
Shriram Consolidated Ltd., Dr. Surinder Kapur, Chairman and Managing
Director - Sona Koyo Steering Systems Ltd, Mr. Banmali Agrawala,
Managing Director - Wartsila India Ltd, Mr Tarun Tejpal, Editor-in-Chief
– Tehelka, Mr. R Seshasayee, President - CII, Mr. Tapan Bhaumik,
Chief economist - Reliance Industries, Mr. Santosh Desai, President
- McCann Erickson and Mr. Raman Roy, Chairman & Managing Director
– Quatrro.
Speaking at the conclave, a spokesperson for CNBC-TV18 said, "The
ultimate aim of the conclave is to create and write a socio-economic
blueprint that will help Heads of State, CEOs, and Policy Makers
from India and across the world to understand and work with the
vast opportunity that is India. The next milestone ahead of India
is breaking through the 10% GDP barrier and one thing is loud and
clear if the Indian economy has to grow by 10% then the consumers,
government and the industry players will have to work in perfect
symphony."
Sustained economic growth presents different challenges to India
- revitalization of the rural economy, improved delivery of necessary
public services, enhanced management of urban areas, and facilitation
of cost-effective investment in infrastructure were identified by
the panelists.
The discussion revealed that for India to achieve a 10% GDP growth
the immediate need is to increase infrastructure spend to GDP. The
problem which arises here was Investment as China spends around
20% of its GDP on Infrastructure projects while India spends only
6%. Hence there is a strong case for raising this number.
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