Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: 4.0
Article rating: 5.0
Article rating: 3.3
Article rating: 5.0
Article rating: 4.0
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: 4.3
Article rating: 1.0
Article rating: No rating
RSS

News

India Inc opposed to any reservation in pvt sector: Assocham

Author: IANS/Monday, November 13, 2017/Categories: Economy

India Inc opposed to any reservation in pvt sector: Assocham

New Delhi, Nov 13 - India Inc is opposed to any move to bring in reservation in the private sector as it would certainly create a big dent in the country's investment climate and negate the perception advantage given by a jump in the World Bank ease of doing business index, a top industry body said on November 13.

"At a time when the Indian economy is seeking positive triggers for growth revival, any political narrative on reservation in the private sector would bring in a big blow. The industry is already tackling the challenges from the roll out of the Goods and Services Tax (GST) along with the short-term demonetisation impact," Associated Chambers of Commerce and Industry of India (Assocham) Secretary General D. S. Rawat said.

"The political parties should rather focus on creating an environment that helps such an economic pace that millions of jobs are created both in the public and private sectors and are urged to avoid sending wrong signals to the global and domestic investors," he added.

Rawat said, in any case, there is a dearth of private sector investment with capacity utilisation in several sectors not going beyond 72-75%. On top of it, if the political economy of the country is geared to populist sentiments, the environment for growth could be vitiated badly.

"Assocham has always been pressing for the affirmative action by the industries for the economically weaker sections of the society. In fact, there is a somewhat similar sentiment across the entire India Inc which has been contributing a lot to the nation building and economic growth. We have been asking our members to give preference in recruitment to the local candidates, train them, skill them and keep in mind the affirmative aspect," he said. 

"India is a key destination for top global corporations doing cross border businesses. All efforts must be made to make the business environment friendly here," he added.

He cautioned that the states should rather focus on removing the bureaucratic bottlenecks for the industry and trade.

"The industry is willing to engage with the government both at the Centre and states for projects in skill development, training and hiring so that those at the bottom of the economic pyramid are hand held and upscaled," Assocham said in a statement. 

"But any move towards reservation in private sector would be regressive," the chamber said.

 

Print Rate this article:
No rating

Number of views (142)/Comments (0)

Kavita Giridhar Mallya

IANS

Other posts by IANS
Contact author

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Videos

Ask the Finapolis.

I'm not a robot
 
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
 
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest
 
 

Categories

Disclaimer

The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free