KOLKATA, Apr 27: Union minister Suresh Prabhu on
Saturday said the country is working on district-based
developmental model to achieve aggregate growth.
For this, six districts has been selected in different
parts of the country, Prabhu said while addressing a session
here.
The Union minister for commerce, industry and civil
aviation said if the national growth was at six per cent and
those of the districts was four per cent, the aggregate growth
would be 10 per cent.
“All put together, this will result in rise in India’s
GDP and to complement that, the private sector should bring in
investments,” Prabhu said.
The industry has to bring in investment as service-led
growth would not be sustainable, he said adding that the
government is ready with a new industrial policy.
“India needs to integrate with the global economy and
there is no reason why India’s exports volume should not touch
USD 540 billion. This will only happen only by integrating
with the global trade,” Prabhu said.
The minister said the two premier institutes – the IIM
Ahmedabad and the NCAER – have been approached to fix the
baseline.
“The first phase of the project has been completed.
The second phase will include industry, services and
agriculture,” he added.
He also called for the restoration of the trade
balance with China.
India’s huge trade deficit with China would have to be corrected and a Chinese minister has been invited to discuss the issue, Prabhu said. (PTI)
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