News Desk, News Nation 360 : India's estimated 6.5% growth rate is realistic given the country's complicated geopolitical environment. At the CII Conference on Catalysing Growth of Eastern Region in Kolkata, Sanjiv Puri, President of CII and Chairman & Managing Director of ITC Ltd, stated that India is well-positioned to spur growth as a major hub for Global Capability Centres (GCCs), housing over 40% of these centres. Sanjiv Puri argued that the education sector should get 6% of the country's GDP. He underlined the necessity of free trade agreements (FTAs) and the simplification of customs tariff structures, noting that global value chains account for 70% of global trade. India places a high value on the EU free trade agreement, and it is expected that multiple FTAs will be constructed shortly. Sanjiv Puri underscored that it takes all economic sectors like agriculture, services, manufacturing, and private investment to come into play to get an 8 percent national growth rate in India, along with Ease of Doing Business facilitation, underlining the critical need for the resurrection of manufacturing and more momentum in labour-intensive industries to take advantage of India's demographic dividend to create jobs, with a primary focus on building the competitiveness of MSMEs; Chandrajit Banerjee of CII spoke about the changing geo-political scenario, pointing out inflation in the US currently and Germany's automotive industry slowdown, besides calling for national cooperation with state governments to create joint task forces and build high-level committees for regulatory reforms, rationalize EODB, enable agritech adoption, build skills through model career centres, and roll out next-generation reforms in land, power, education, and healthcare; lastly, Rajiv Memani underlined the need for the country to become energy-independent, pointed out the budgetary provision of ₹20,000 crore for R&D, underlined the importance of GCCs with a suggestion of the Eastern Region should strive to do more, and called for the addition of a mineral value chain in the Eastern Region connecting it with the Government of India's critical mineral mission.
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