The trade row between China and the United States can result in an
opportunity for Indian businesses to deal with the largest economy of the
world and fill in the supply chain, according to Confederation of Indian
Industry (CII) chairman, Southern Region, Sanjay Jayavarthanavelu.
Replying to a query on how the US-China row will have an impact on textiles
sector, he said that Indian businesses hope to capitalise on China-US trade
row.
“The trade war opens up opportunity to deal with the largest economy of the
world. He said the trade row will result in disruption in supply chain and a
lot of countries will have a chance to fill in the supply chain. Indian
businesses see it as an opportunity,” he said.
As per the World Economic Outlook Report, global growth is expected to
ease further in 2019 with International Monetary fund lowering growth
forecast for world output to 3.3 per cent from the earlier estimate of 3.5 per
cent. The downgrade was underpinned mainly on account of US-China trade
tensions, tight financial market conditions and normalisation of monetary
policy in advanced economies.
He said that the CII is working to spread the Model State Budget in select
States to foster State-specific action and promote fiscal discipline.Outlining CII-Southern region’s priorities for 2019-20, Sanjay said the CII
Southern Region has chosen ’Competitiveness of South India Inc. India@75:
Forging Ahead’ as its theme. He said high employment and export-oriented
sectors are critical for contributing to the growth of the State.
On CII focus on Micro, Small and Medium Enterprises sector, Sathish
Raman, regional director, CII southern region, said that CII is expanding its
footprint for SMEs by asking them to ‘Go Global’ and asking them to forge
partnership with global players in India. He said that SMEs need
handholding
On Employment Generation and Livelihood Creation, Sanjay said the major
engagement would be Skill Gap Study in the labour intensive areas and to
facilitate industry centric skill policy in Southern States.
The Model Career Centre (MCC) in Chennai provides career counselling, skill
training, and assessment thereby facilitating employment for unemployed
youth. Over 12000 candidates are to be placed through MCC, Job fair in Tier
II cities in this year, he said.
Source: The Indian Express, India Thursday, 16 May 2019