Uncontrolled development sans risk assessment increases risk of losses from disasters: NITI Aayog VC
NITI Aayog Vice Chairman Rajiv Kumar on Tuesday said the government and the private sector should work together with an aim to bring exports to the centre-point of economic activity to take advantage of external demand conditions.
"The low share of our goods and services exports is a matter of concern. We need to improve our skill set and human capital as well as take cognisance of external demand conditions," Kumar said at a meeting of the CII Economic Affairs Council here.
"...considering our low per capita income, we should consider our country as small economy on the world stage rather than as the sixth-largest economy ready to take on the world," he said.
Kumar added the falling rupee is not a cause of worry as it is getting back to its natural value. Besides, there is nothing much that the government should do to stem the fall of the rupee as the move would adversely impact growth, he said.
"Hence, the prevailing environment should be leveraged to push exports and foreign capital inflows. We also need to revisit safeguards and anti-dumping duties to boost export growth and set targets to improve our export share," he stated.
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