Focus on economic reforms and economic liberalisation: Pb Gov to Industrialists

Ludhiana, September 16, 2012: The Punjab Governor, Shivraj V. Patil,while addressing the 34th Annual function of Ludhiana Management Association, here today impressed upon the industrial and business community to emphasise on economic reforms and economic liberalisation.

He said it is high time that industry must start thinking innovative and fine tuning of their strategies to cop up with the difficult and changing business environment. He said there should be no limitation on using the potential which is with us. He said whatsoever is produced should be made available for the users. He said production is necessary but distribution of production in a just manner is most necessary and important.

Patil said economic reforms means managing our productive activity in such a manner that it helps to increase production and productivity, and helps the consumers, and all in the society to meet their demands, and to march in the directions which can cope up with the challenges of the future. He said it is a concept which is quite comprehensive and does not limit itself to the productive activity alone, but to the concept of distributive justice.

The Governor said that economic liberalisation means that the government, public private entrepreneurs and individuals were given opportunities and facilities to use their skills, funds knowledge to produce commodities, goods and services in the best possible manner. It gives liberty to all those who are part of the private sector and to those who manage and work in the fields in which production is done. It means, liberty can be given to the owners, managers, workers scientists and technologists. 

Patil said that the industry has to understand the concept of planning. He said we need to have short term, medium term and long term planning to get desired result. He said idea of nuclear technology was conceived by late Pt. Jawaharlal Nehru and today we are enjoying its result. He said in the past, capital, management and labour helped industry to function and produce good results. Now there is going to be competition between all producers of commodities, goods and services. New technologies are coming into existence. Indian industry needs to produce technologies and new methods of production to compete with the industries in the world.

He said that the private sector companies and industries in the world are producing new technologies for themselves. In India also that should be done. The governments would play their role in this area. But private sector needs to play a greater role in this. Only than India would be able to bring about economic reforms. If this is not done, it would be as successful in economic reforms, as it should be, he added.

Patil also stressed upon using solar energy on which Government of India is giving 30% subsidy and 80% tax rebate. He said if we start using solar energy there would be no shortage of energy in the country. 

Appreciating the role of Ludhiana  Management Association for strengthening the industrial sector, Patil, said LMA is doing a yeoman service in providing management professionalism in this part of the country. He said that latest technique developed by the national and the state laboratories should be transferred to the industries, so that they could manufacture these equipments and supply them to various fields of development.

Describing Ludhiana as industrial capital of the state, Patil said Ludhiana is one of the most developed industrial city in the country and other State would also get inspiration and encouragement from this industrial hub. He said managing the mind and research at state and national level would help in managing everything in best possible manner.

Patil while conferring awards to entrepreneurs who excel efficiently in different field by LMA said  is an highly appreciable step to encourage and inspire young entrepreneur to follow their achievements. He said with this Ludhiana Management Association will inspire a whole generation of entrepreneurs and managers to discover new ways of excellence and innovations.

Patil conferred four different LMA awards one each to Neeraj Sehgal, for Vardhman Award, Dr. Rajneesh Arora, Vice Chancellor PTU for LMA Dayanand Award, Trident Award to Harman Singh and Sat pal Mittal Award to S.P. Oswal. After knowing the excellent work done by these awardees in their respective fields, Patil said the LMA has selected the right persons who while discharging their duties has not only protected their interest but they have done commendable job for the betterment of society and of entire country. 

Prominent amongst others who were present on the occasion included O.P. Munjal, Rakesh Bharti Mittal, S.P. Oswal, J.R. Singal, Abhishek Gupta, Sachin Jain, KNS Kang and Kamal Wadhera.