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  Business   Economy  29 Apr 2017  Pangariya hits out at industry for not creating jobs

Pangariya hits out at industry for not creating jobs

Published : Apr 29, 2017, 1:26 pm IST
Updated : Apr 29, 2017, 1:26 pm IST

The NITI Aayog vice-chairman further said India needs to focus on domestic policies to step up its share in global trade.

NITI Aayog Vice-Chairman Arvind Panagariya
 NITI Aayog Vice-Chairman Arvind Panagariya

New Delhi: Turning the tables on IndiaInc, NITI Aayog Vice-Chairman Arvind Panagariya today said the industry is not discharging its responsibility of creating jobs.

"What is industry doing for job creation  Government makes policies ... I don't see single industrialist starting a factory to produce apparel. "Why China exports USD 175 billion worth apparel we export only USD 17 billion worth of apparel.

I think there is some responsibility on part of industrialists too," he said at when asked if the government has failed to create jobs. Panagariya also said the industry, if facing any problem, should approach the government for removal of policy barriers.

"No industrialist came and told me that I want to invest in apparel industry and please remove barriers ... I understand you go for profit, naturally you will go for profit." he said, adding that the industry must contribute its bit in creating jobs.

The NITI Aayog vice-chairman further said India needs to focus on domestic policies to step up its share in global trade to 4-5 per cent from the current 1.7 per cent and not get perturbed by what is happening in the US.

"What matters more is what we do in India", he said. The global merchandise export is USD 16-17 trillion and there should be an effort to raise India's pie, irrespective of increase or decrease in global trade, he said.

Panagariya said policy changes are happening at the level of Centre and states too should be pushed to bring reforms. He also noted that reform in food processing sector is very low. Panagariya also said most states still have not provided legal framework to APMC Act.

He mentioned that the Cabinet has accepted the recommendation for privatisation of 20 PSUs sent by NITI Aayog and it is only a matter of time when the process of ownership change would start.

"Already, the closure of sick PSUs have started happening based on the suggestion made by the Aayog," he said. Panagariya also observed that the strident attitude demonstrated by the US is showing signs of change and hopefully there would be a turnaround in the approach of advanced economies in favour of openness.

He said that he was not in agreement with the view that greater use of robotics and artificial intelligence should be a source of worry for India. "Our labour force, employed in mass manufacturing industries such as clothing and leather sector, has the capability to do a much better job than robots. "With conducive policies and business environment, India would continue to be in the reckoning," Panagariya said.

Tags: niti aayog, arvind panagariya, job market
Location: India, Delhi, New Delhi