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Journalism of Courage
The Department of Industrial Promotion and Policy secretary V Govindarajan said the taxation structure, high cost of finance and infrastructural bottlenecks are the reasons for low industrial output.
Addressing a Ficci session on 8216;WTO and Indian Industry: Challenges and Strategic Solutions8217;, He said that certain factors hindering the growth of the Indian industry are 8220;relative taxation, issue of cost of funds, labour market problems and infrastructure bottlenecks.8221;
8220;The reform process, however, is addressing these areas,8221; he said adding that India has improved its competitiveness in certain sectors in the post-liberalised period and the same should percolate to all sectors of the industry. Unido DG Carlos Alfredo Magarinos stressed that 8216;productivity and competitiveness8217; is critical for the Indian industry to excel in the world market.
Adding that India has a 8220;position of leadership8221; among developing nations, he cautioned that India may lose its competitive advantage in textile sector if it would not focus on increasing productivity.
