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India working on district-based development model: Prabhu

Press Trust of India  |  Kolkata 

on Saturday said the country is working on district-based developmental model to achieve aggregate growth.

For this, six districts has been selected in different parts of the country, said while addressing a session here.

The for commerce, industry and civil aviation said if the national growth was at six per cent and those of the districts was four per cent, the aggregate growth would be 10 per cent.

"All put together, this will result in rise in India's GDP and to complement that, the private sector should bring in investments," said.

The industry has to bring in investment as service-led growth would not be sustainable, he said adding that the government is ready with a new industrial policy.

"needs to integrate with the global economy and there is no reason why India's exports volume should not touch USD 540 billion. This will only happen only by integrating with the global trade," Prabhu said.

The said the two premier institutes - the IIM Ahmedabad and the NCAER - have been approached to fix the baseline.

"The first phase of the project has been completed. The second phase will include industry, services and agriculture," he added.

He also called for the restoration of the trade balance with

India's huge trade deficit with would have to be corrected and a Chinese minister has been invited to discuss the issue, Prabhu said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, April 27 2019. 20:05 IST