The Vice President, M Venkaiah Naidu called upon the industry to work with the Government on implementing various reforms with greater vigour and pave the way for sustained economic growth in the coming decade. Speaking virtually at 'Mystic South, Global Linkages Summit - Towards a $1.5 Trillion Economy by 2025' organised by the Confederation of Indian Industry, he said India is now at a decisive point in regaining its growth. Pointing out that the Union Government has taken a number of steps to revive the economy, he said, the industry on its part, must rise to the occasion and ensure that the upward growth trajectory continues. The need of the hour is to initiate actions that return the economy to a high-growth track and create gainful jobs for millions of workers by 2030, the Vice President said.
Stating that an annual GDP growth rate of 8 to 8.5% annually with continued productivity growth will be required to stimulate entrepreneurship, create jobs and drive balanced progress, Naidu noted that India has been one of the 18 outperforming emerging economies over the past decade. Stressing the need for India to leapfrog ahead to achieve the required employment and productivity growth, he said that global trends such as digitization and automation, urbanization, rising incomes, sustainability, health, and safety are assuming a new significance in the wake of the pandemic.
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