ISO 9001:2015 Certified
closex Call Us 11-23320714, 23721504, ficci@ficci.com

 Upcoming Event
to forge a partnership on Technology Commercialization Initiative, FICCI-AMITY and IC2 Institute University

India Inc needs to respond to various reform measures of govt: CEA 

Devdiscourse , Oct 30, 2020

India Inc needs to respond to various reform measures, including in the labour sector, undertaken by the government to accelerate the growth impacted by the COVID-19 pandemic, Chief Economic Adviser K V Subramanian said on Friday. He emphasised that India is the only country which utilised the opportunity provided by the current crisis to unleash the second generation reforms that are focused on factor markets.

"If you look at the reforms that have happened since 1991, most of those reforms were primarily focused on product markets, including the reforms that were launched by the Atal Bihari Vajpayee government as well. But now when you look at the reforms that have been launched together with some of the previous ones, like IBC (Insolvency and Bankruptcy Code), (they are) basically an attempt to reform the capital," he said. IBC is followed by labour reforms, he said, adding that cost of labour is an important factor of production. Agriculture, which is another important factor, is part of the primary sector, the CEA noted. "So, when you take these into account, there is a very important theme of Aatmanirbhar Bharat which is primarily about relying on the private sector enterprise and on the efficiency that private sector brings," he said at an event organised by FICCI. Subramanian said these reforms signal that the intent of this government is to rely on markets and that efficiency is primarily brought in by the private sector. "Now India Inc actually needs to respond. We have enabled labour laws reforms etc...There are enough and more opportunities for ethical wealth creation to be done in Indian context...this is something that I would like widespread in India Inc," he said. Observing that the idea of Aatmanirbhar Bharat is not anathema to competition, he said self-reliance can never happen without adequate capabilities.

Capabilities are never built in a vacuum but they are built only by competing with the best, he added.

 

 

Also Read

Govt in final stages of drafting new National Retail Trade Policy: MoS for Commerce & Industry, GoI

Unconventional, agile, and tech-driven strategies to help REBOOT the consumer industry: FICCI-Deloitte report on FMCG and Retail (e-commerce)

Concept of Atmanirbhar Bharat is not anathema to competition, it coexists with competition: Chief Economic Adviser, GoI

Growth of e-commerce in grocery channels irreversible; will co-exist with general trade: HUL CMD Sanjiv Mehta     

National policies on e-commerce, retail trade, logistics, industry in final stage of drafting: Som Parkash     

Agri reforms a move in the right direction, says HUL MD Sanjiv Mehta     

Govt in final stage of drafting e-commerce policy, says minister     

Govt: E-commerce policy in 'final stages' of drafting; retail trade policy to benefit 65m small traders     

Govt is in final stages of drafting National Retail Trade Policy     

Govt in final stage of drafting e-commerce policy, says minister     

Govt in final stages of launching new National Retail Trade Policy, says Som Parkash     

New National Retail Trade Policy in final stages: Minister     

India to introduce logistics, e-commerce national policy, says minister     

Covid-19 is accelerating consumer shift towards online, say top FMCG cos     

National retail and e-commerce policy in final stages of drafting: Som Parkash     

Growth of e-commerce in grocery channels irreversible; will co-exist with general trade: HUL CMD     

Govt in final stage of drafting e-commerce policy, says minister     

Govt in final stages of launching New National Retail Trade Policy, says Som Parkash     

Top FMCG companies say move towards increasing share of e-commerce irreversible     

Govt in final stage of drafting e-commerce policy, says Union Minister Som Parkash     

'New National Retail Trade Policy in soon'     

Govt to come up with new National Retail Trade Policy soon: Minister     

New National Retail Trade Policy in final stages: Minister Som Parkash     

New National Retail Trade Policy in final stages: Minister     

Govt in final stages of launching new National Retail Trade Policy, says Som Parkash     

Govt in final stage of drafting e-commerce policy, says minister     

Govt in final stages of drafting new National Retail Trade Policy: Union Minister Som Parkash     

Growth of e-commerce in grocery channels irreversible; will co-exist with general trade: HUL CMD     

Govt in final stage of drafting e-commerce policy, says minister     

Govt in final stages of launching new National Retail Trade Policy, says Som Parkash     

Govt in final stage of drafting e-commerce policy, says minister     

New National Retail Trade Policy in final stages: Minister     

New National Retail Trade Policy in final stages: Minister     

New National Retail Trade Policy in final stages: Minister     

National policies on e-commerce, retail trade, logistics, industry in final stage of drafting: Som Parkash     

New National Retail Trade Policy in final stages: Minister     

New National Retail Trade Policy in final stages: Minister     

New National Retail Trade Policy in final stages: Minister     

Govt: E-commerce policy in ‘final stages’ of drafting; retail trade policy to benefit 65m small traders     

Govt in final stage of drafting e-commerce policy, says minister     

Govt in final stage of drafting e-commerce policy, says minister     

New National Retail Trade Policy in final stages: Minister     

Govt in final stages of launching New National Retail Trade Policy, says Som Parkash     

Lockdowns have changed consumer buying behaviour; omni-channel strategy key to business growth: Report     

Lockdowns have changed consumer buying behaviour; omni-channel strategy key to biz growth: Report     

Lockdowns have changed consumer buying behaviour; omni-channel strategy key to biz growth: Report     

Omni-Channel strategy key to business growth in post-lockdown world, says Deloitte-FICCI Report     

Lockdowns have changed consumer buying behaviour; omni-channel strategy key to biz growth: Report     

Lockdowns have changed consumer buying behaviour; Omni-Channel strategy key to biz growth: Report     

Unconventional, Agile and Tech-driven strategies to help Reboot Consumer Industry: Report     

Agile and technology-driven strategies to recharge the consumer industry     

Agile and tech-driven strategies to help reboot consumer industry     

Lockdowns have changed consumer buying behaviour; omni-channel strategy key to biz growth: Report     

Unconventional, agile, and tech-driven strategies to help REBOOT consumer market: FICCI-Deloitte report     

'Unconventional, agile and tech-driven strategies to help reboot consumer industry'     

Lockdowns created new biz opportunities, changed consumer beaviour: FICCI-Deloitte report     

Deloitte: Lockdowns have changed consumer buying behaviour; Omni-Channel strategy key to business growth: Report     

COVID-19 Lockdowns have changed consumer buying behaviour; Omni-Channel strategy key to business growth: Report     

'Unconventional, agile and tech-driven strategies to help reboot consumer industry'     

E-comm key for FMCG sector, but general trade here to stay: Experts     

Growth of e-commerce in grocery sector 'irreversible': HUL CMD Sanjiv Mehta     

HUL CMD: Move towards increasing share of e-commerce in grocery irreversible     

Growth of e-commerce in grocery channels irreversible; will co-exist with general trade: HUL CMD Sanjiv Mehta     

'New National Retail Trade Policy in final stages'     

Govt in the final stage of drafting e-commerce Policy: Som Parkash     

New National Retail Trade Policy in final stages: Minister     

Growth of e-commerce in grocery channels irreversible; will co-exist with general trade: HUL CMD     

Rural sales growing faster than urban markets: HUL Sanjiv Mehta     

Govt in final stages of launching new National Retail Trade Policy, says Som Parkash     

New National Retail Trade Policy in final stages: Minister     

Govt is in final stages of drafting new National Retail Trade Policy: Som Parkash     

Govt in final stage of drafting e-commerce policy, says minister     

e-Commerce and National Retail Trade Policies soon     

New National Retail Trade Policy in final stages: Minister     

Framework to ‘REBOOT’ the consumer industry: Deloitte-FICCI report     

Indian industry should tap into country's competitive advantage: KV Subramanian, CEA     

India Inc needs to respond to various reform measures of govt: CEA K V Subramanian     

India Inc needs to respond to various reform measures of govt: CEA     

India Inc needs to respond to various reform measures of government: CEA Subramanian     

India Inc needs to respond to various reform measures of govt: CEA Subramanian     

FMCG firms bat for digital first strategy once virus subsides     

India Inc needs to respond to various reform measures of govt: CEA     

Use of technology in retail going to stay, say industry captains     

India Inc needs to respond to various reform measures of govt, says Chief Economic Adviser Subramanian     

India Inc. needs to respond to various reforms undertaken: Chief Economic Adviser     

Consumers adapted to post-Covid reality in retail via e-commerce: Industry     

'Consumers adapted to post-Covid-19 reality quickly in retail through digital, omni channels'     

Atmanirbhar Bharat is not anathema to competition, it coexists with competition     

Industries be built in remote areas: CEA     

India is the only country to unleash second generation reforms provided by COVID-19     

'Consumers adapted to post-COVID reality quickly in retail through digital, omni channels'     

'Consumers adapted to post-COVID reality quickly in retail through digital, omni channels'     

Govt: E-commerce policy in ‘final stages’ of drafting; retail trade policy to benefit 65m small traders     

E-commerce channels prompt FMCG companies to launch digital only brands     

Consumers adapted to post-Covid reality in retail via e-commerce: Industry     

Indian industry should tap into country’s competitive advantage: KV Subramanian, CEA     

CEA Krishnamurthy Subramanian cautions NBFCs on ‘zombie lending’     

Industry needs to play volume game: CEA     

Consumer brands should REBOOT businesses: FICCI-Deloitte     

Consumer brands need to restart their business: FICCI-Deloitte     

Unconventional, agile and tech-driven strategies to help REBOOT consumer market: Report     

Deloitte, FICCI unveils fourth edition of joint report ‘REBOOT’ at Massmerize 2020     

India Inc needs to respond to various reform measures of govt: CEA     

''Consumers adapted to post-COVID reality quickly in retail through digital, omni channels''     

Use of technology in retail going to stay, say industry captains     

Use of technology in retail going to stay, say industry captains     

India Inc needs to respond to various reform measures of govt: CEA K V Subramanian     

India Inc needs to respond to various reform measures of govt: CEA     

India Inc needs to respond to various reform measures of govt: CEA K V Subramanian     

Concept of Atmanirbhar Bharat is not anathema to competition, it coexists with competition: Dr Krishnamurthy Subramanian Chief Economic Adviser     

Lockdowns have changed consumer buying behaviour; omni-channel strategy key to biz growth: Report     

Lockdowns have changed consumer buying behaviour; omni-channel strategy key to biz growth: Report     

Unconventional, agile, and tech-driven strategies to help REBOOT the consumer industry: FICCI-Deloitte report     

GCMMF's MD lauds Amul’s unique co-op model at FICCI event     

Unconventional, agile, and tech-driven strategies to help ‘REBOOT’ the consumer industry: Deloitte-FICCI report     

'Consumers adapted to post-COVID reality quickly in retail through digital, omnichannel'     

India in final stages of drafting National Logistic policy, New Industrial policy, an E- Commerce policy and National Retail Trade policy     

Event:

 MASSMERIZE 2020