Co-operative And Competitive Federalism, Ease-of-Doing Business For MSMEs Essential For Achieving US $ 5 Trillion Economy: PHD Chamber

Healthy competition to adopt innovation and create synergies in businesses, cooperative federalism to adopt best practices of each other, effective measures to implement dynamic reforms at ground level for the ease of doing business for MSMEs would push India's growth trajectory to the next level and enhance the production possibility frontiers of businesses, said the prestigious States Policy Conclave organized by PHD Chamber of Commerce and Industry concluded on 7th September 2019 at the Hotel Taj Mahal, New Delhi.

The States Policy Conclave hosted the key government officials and industry stakeholders along with academia with a mission to empower States to strengthen India's federal structure of governance and to make India a US $ 5 Trillion Economy.

While inaugurating the conclave deliberations, Shri Amitabh Kant, CEO, NITI Aayog, congratulated the PHD Chamber of Commerce & Industry for holding the States' Policy Conclave every year. He said that the conclave provides a great platform to states across the country to discuss and debate the factor instrumental in driving the economic and social agenda of the country.

Mr. Kant mentioned that the states have to combine and work together radically to transform India and to learn from each other to build a great growth story. Mr. Kant stressed on the goal of achieving US $ 5 trillion economy by 2024 which will not be possible without the states becoming the key agents of India's growth story.

Shri G. Kishan Reddy, Minister of State for Home Affairs, Government of India appreciated the efforts of PHDCCI to organize such a meaningful program and said that PHD Chamber should play a big role to make India a $5 trillion economy.

While extending a warm welcome to dignitaries from government and industry, Sh. Rajeev Talwar, President, PHD Chamber, PHD Chamber of Commerce and Industry said that the role of states has become crucial to explore the potential of our vibrant country and to achieve a size of USD 5 trillion economy in the next five years. Healthy Competition among the states would create innovative economic environment and enhance the competitiveness of the states, said Mr. Talwar

Mr. Talwar congratulated the officials from the states on their excellent contribution in providing conducive business environment to spur the economic growth trajectory of the country. Going ahead, he said that the states can contribute significantly in the areas of skill development, improving the supply chains and harmonising the industrial and workforce relationships.

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