Address At The Platinum Jubilee Celebrations Of Indian Chamber Of Commerce

ADDRESS

I am indeed delighted to be here to participate in the Platinum Jubilee Celebrations of the Indian Chamber of Commerce. I understand that this Chamber was set up as part of India's freedom movement by Shri G.D. Birla to enable Indian entrepreneurs to contribute to nation building in their quest to see a free India. I attach special significance to the fact that this Chamber is a premier body of business and industry in the Eastern and North-Eastern region. My greetings and best wishes to the growth of industries particularly value added industries in the eastern region and realization of growth of state and the national economy.

I would like to narrate one incident as a part of the freedom moment of a great industrialist visionary who paved the way for establishing a steel complex at Jamshedpur. The few remarkable achievements made by our legendary leaders during the pre-independence period. Jamsetji Nusserwanji Tata brought the steel industry in India even though the British rulers were not favourably disposed to the idea. Acharya PC Ray brought up chemical and pharmaceutical industry. Likewise, in the pre-independent period we saw the birth of many great institutes like Indian Institute of Science, Bangalore started by JN Tata, Benares Hindu University by Pandit Madan Mohan Malviya, and Aligarh Muslim University by Sir Syed Ahmad Khan. There were also some Indian Maharajas who started and nurtured universities like the one in Baroda. There are many examples in both industrial and educational fields. In all these cases the basic motivations have been to show the urge to build the Nation and demonstrate to the world that "India can do it".

Like that many industrialist like Birla family and Tata families and TVS Families have established many industries in the country. Now the time has come for the second vision for India to become developed India. A similar movement like what we had during our freedom movement is required to achive our vision of developed India.

Second Vision for the Nation

After 50 years of progress, the aspirations are mounting that India should become a developed country. This is the second vision for the nation. How we can prepare ourselves to this challenge? To become a developed India, the essential needs are:

(a) India has to be economically and commercially powerful, at least to be one of the six top nations in terms of size of the economy. Our target should be a GDP growth of 9 -11% annually and that the people below poverty line to be reduced to 10%.

(b) near self-reliance in defence needs of weapon, equipment with no umbilical attached to any outside world.

(c) India should have a right place in world forums.

Technology Vision 2020 is a pathway to realise this cherished mission. The Technology Vision 2020 consisted of 17 technology packages in the core sectors such as agriculture and food, healthcare, infrastructure and strategic industries. The Task Teams with nearly 500 experts of our country worked for two years, deliberated national status of various branches of national development and generated 35 documents detailing the steps to be taken for creating wealth for the nation and the well being of our people. "Technology" is the most vital key for achieving the goals. The vision deals with agro food processing, food and agriculture, health-care, electric power, civil aviation, waterways, engineering industries, life sciences and bio-technology, strategic industries and materials and processing. There is a tremendous link between each technology package.

Five Mega Projects to transform the nation to Developed Country

We have identified five areas where India has a core competence for an integrated action. (1) Agriculture and food processing - we have to put a target of 360 million tons of food and agricultural production. (2) Reliable and quality electric power for all parts of the country. (3) Education and Healthcare - we have seen, based on the experience, education and healthcare are inter related. (4) Information Technology - This is one of our core competence. (5) Strategic sectors - This area, fortunately, witnessed the growth in nuclear technology, space technology and defence technology.

These five areas are closely inter-related and lead to national, food, economic and security. A strong partnership among the R&D, academy, Industry and the community as a whole with the Government departments will be essential to accomplish the vision.

India is a vast country with tremendous natural resources apart from qualified, talented human resources. I firmly believe that with such rich resource potential our country, through appropriate policies and initiatives, can easily surpass any other in the field of economic development in the shortest time. All of us need to work together to make it happen. We shall certainly succeed in it.

We have been talking about our vision for a prosperous, peaceful and developed India. Our Prime Minister in his address to the Nation on the last Independence Day, spoke about this vision. We need balanced inter-sectoral and inter-regional development so as to avoid kinks in growth and also to ensure that the gulf between the rich and the not so rich is narrowed to the maximum. Our GDP has to double itself if we have to develop the way we want. It is gratifying to note that the Tenth Five Year Plan has set a target of 8% growth in the GDP. A third of our billion population is below poverty line. We have to strive hard to leave no stone unturned so as to bring this sizeable number above the poverty line. Achieving the target set for growth in GDP has thus become an imperative.

Economic development of the nation is a joint effort. Time was when one used to think that bringing about development was the main task of the Government alone. In fact I would go to the extent of saying that more than the Government, the vibrant non-government sector in the country is most crucial in this exercise. It is in that context that I consider the efforts made by the Indian Chamber of Commerce very significant.

With large manufacturing units which have operations all over the country and abroad, leading industrial promotional organisations, banks and financial institutions and even governmental organisations as members of the ICC, it is best suited to provide the required fillip and act as an effective catalyst in the development process of our country. I am gratified to note that ICC's forte has been its ability to move with the times, anticipate the needs of the future and suggest proactive measures for furthering Indian business and industry. I have also learnt that the ICC has been instrumental in developing forward looking entrepreneurship in the country through its various initiatives like the organising of the Young Leaders Forum, Environment Management Centre, etc. Having said that, I must hasten to add that much more remains and needs to be done. As the prime body concerned with business and industry in the Eastern and North-Eastern region, the Indian Chamber of Commerce has a tremendous, enviable responsibility to discharge. I have extensively travelled in the North-East and I was struck by the abundance of resources in that Region. I however could not escape having a feeling that the resources in this region were grossly under-utilised. It is significant that the Government of India have taken the initiative to set up an exclusive department to deal with the development needs of the North-Eastern region. As we all know and as the Prime Minister recently re-affirmed at the Conference of Governors in Delhi, resources are not a constraint for development. What is required is the will and capability to utilise them appropriately. I had the opportunity to travel to remote areas in the North-East. I was struck by the enthusiasm of the people and the eagerness that they displayed to join the main stream to live in a developed India. We need to urgently improve the infrastructure in this region. There is need to have an integrated regional approach for development and security for the North-Eastern region.

Conclusion

The next 20 years period, I consider, is a period of technology transformation in India. I anticipate new emerging economic situations. There is a possibility of India becoming a knowledge society with focussed tool of Information Technology and entrepreneurial push. Also we have to be prepared for a new trend as in the case of Internet with minimum Government initiatives and support and entrepreneurship push the project. Internationally, Internet is wealth generating system and its development are supported by many business houses and academics. In our country such things are also happening as in the case of Internet, software, pharmaceuticals and road transportation.

Developed India 2020, second movement, second vision for the nation will definitely result, if our industry take the lead in multi fields. I can see a virtual image of India, the children by 2020 will not see the high illiteracy, poverty and social differentiation. They will see a new India. Our children will sing the song of prosperous India if we sweat in this decade. Today, the Indian mind has to get ignited by our second vision for the nation. The ignited human mind is the most powerful resource on the earth, under the earth and above the earth. My best wishes to you all for transforming industrial and commercial houses into establishments of substance and thereby the nation great.

In this Platinum Jubilee Year, I would urge the ICC to re-double its efforts to bring about visible accelerated development in the Eastern and North-Eastern region which I have no doubt is the key to comprehensive development of the country as a whole. I wish the organisers all the very best in their endeavours for making this vision possible in the shortest possible time.