CICU holds panel discussion on current Indian scenario economy

Upkar Singh Ahuja, President, CICU welcomed all the dignitaries and talked about various hurdles, which industrialists are facing like high GST rates, no support of Govt., Bad Infrastructure, lack of technology etc. He also said that the Govt. should help the industry by pump in money, reduction in GST & interest and other measures. He also highlighted about High rate of GST 28 % on two wheelers and other components.

Pankaj Sharma, General Secretary, CICU said that government should support industries in this bad time by investing in technology and R & D, hassle-free Bank financing to 2 wheeler or 4 wheeler. He also said our economy thrives and survive on our internal consumption, in 2008-2009, when recession was came, India economy survives because of internal consumptions. The foreign investors are not coming out.

J.S Bhogal, V.P, Farmparts Company & Publicity Secretary, CICU said about massive fall of global prospective on trade development. He said that a lot of Jio political situation worldwide are impacting the Indian economy. He also highlighted the climate change is going to impact the economy, what we are buying and living because forest fire in amazon is in Indonesia right now, billion tons of ice melting in green land. All of this effecting on live stock in industries slow down.

Mohit Goel, CEO, Omaxe Ltd, said that as electric vehicles are coming, the number of components will reduced by 300 components to 30 components. As according to his construction company the job growth are taken away by machines. The things are replacing naturally.

Rishi Dada, Director, Dada Motors said that electric vehicles are not still established in Indian economy, rest in China and America.  The electric vehicles will reduced the number of jobs.

Sandeep Jain, Monty Carlo, said that there is no compression with China, because China 19 trillion Dollar economy as India has only 2 trillion Dollar economy. If India growth at 6 %, it will growth only 4 million dollars. He also said that China is not build by Chinese money, China is built by world’s money. China use to receive 100 million dollars every year from last 20 years. India only receive 50 million dollar in last 5 years, which is less to grow a country. The Govt. should try to invite foreign investors to grow and strong the Country.

The meeting was attended by more than 300 industrialists some by namely Sh. Gaurav Sarup, Marshall Machines Ltd, Sh. H.S Pahwa, Nova Cycle, Sh. Inderjit Nagpal, Haveli Ram Bansi Lal, Amit Mehta, Mehta Automotive, Angad Singh, Big-Ben Export, Sh. Tejvinder Singh, Sh. Didarjit Singh, S.S Passi, Parminder Singh, Kharay Products., Sh. Sham Gupta.

List Felicitation of Awards Honour