ALSO READ'Indian economy can reach USD 6-8 trillion mark in 15 yrs' Indian economy to double GDP to $5 tn in few years: Jaitley US power: California has 3% of India's population, 125% of its GDP (Special to IANS) India's growth to remain 'strong'; to hover around 7.5% JPP to boycott state Assembly Foundation Day
Industries must come forward to invest in skill and innovative ideas for employment generation and growth in economy, says NALCO CMD Tapan Kumar Chand.
Seventeen per cent of India's GDP depends on agriculture, 26 per cent on industry and 57 per cent on the service sector, he said.
"But to strengthen other sectors, industries must ensure bringing down production costs and increasing the purchasing power. For this, skill development and investment in innovative ideas are a must," said Chand.
Chand, in his address, appreciated Prof Ashoka Das, Vice Chancellor and all faculty members for their efforts to bring in all-round development of the university promoting free-thinking.
Citing the example of Navratna NALCO's R&D efforts, Chand spoke about presence of fluoride in the ground water of Angul sector even before Nalco was established, and to address this endemic problem, the company is investing around Rs 20 crore in a breakthrough Nano technology conceived by a young group of scientists.
Similarly, efforts are being made by the company as part of waste management to extract iron from its residual red mud in Damanjodi sector.
As part of industry-institution interaction programme of NALCO, Chand announced that it would collaborate with Utkal University for all-round development, including infrastructure and intellectual development, and provide a platform to students, teachers and researchers for their innovative ideas through a dedicated web portal.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)