Physical and social infrastructure are the two areas that need focus in the country, according to Confederation of Indian Industry (CII) President and Chairman and Managing Director of TVS Motor Company Venu Srinivasan.
Speaking at the inaugural of the two-day TIDES Leadership Summit, organised by the CII here on Friday, he said physical infrastructure included roads, ports, and power. While India was spending about 5 per cent of the Gross Domestic Product on physical infrastructure, China was spending about 11 per cent.
Regarding social infrastructure, he said though the primary education had improved in the country, more students were studying English in China now than in India.
The delivery mechanism in sectors such as education and health should be improved in the villages in India. Further, agriculture and factory reforms need to be addressed.
Mr. Srinivasan said implementing these reforms, introducing the Goods and Services Tax and bringing down transaction costs would help achieve higher growth.
On leadership, he said a leader made a lot of self-sacrifice for the greater good of the group.
The most important aspect of leaders was that they served and espoused certain values. Sustainability of the organisation they led came from the values. “We have a role to play in creating awareness about leadership among entrepreneurs,” he said. Kongunadu was a cradle of entrepreneurs.
There were leaders in different fields from here. It was a leader's responsibility to nurture society. CII-Southern Region Chairman C. R. Swaminathan said India was now a global leader in several fields. Indian skills and knowledge were in demand and Indian consumers now demanded global products and services.
Former Chairman of the CII Coimbatore Zone Jairam Varadaraj said the focus should not be on just economic development but all aspects of life. To reach greatness inclusive growth was needed.
Chairman of the CII Coimbatore Zone Ravi Sam welcomed the gathering.
