The incoming President of the Confederation of Indian Industry (CII) for 2012-13, Mr Adi Godrej, Chairman of the Godrej Group, stressed the need for reforms and good governance.
“I strongly feel that we are at the crossroads between choosing business as usual and 9 per cent plus growth. I choose the later and (in my capacity as CII President) would urge the Government to focus on reforms and governance,” he said.
He has succeeded Tata Steel Managing Director Mr B. Muthuraman. Mr Godrej had met the Prime Minister on Wednesday to discuss the need to improve India’s perception and do away with retrospective amendments. “Our perception is worse than reality. We need to improve both.”
Addressing a press conference, he said, “Second generation State reforms in the areas of land acquisition, power, agriculture and acceptance of Goods and Service Tax and FDI in multi-retail brand are key to the proposed growth trajectory.”
Welcoming 50 basis points rate cut by the RBI, he said, “I urge the RBI to concentrate on growth and curb inflation not only by monetary policy but by supply side corrections. Sustainable high growth rates can be managed with low inflation.”
Mr S. Gopalakrishnan, Co-Founder and Executive Co-Chairman, Infosys Technologies Ltd is the President Designate of CII for 2012-13.
Besides, Mr Ajay S Shriram, Chairman of DCM Shriram Consolidated Ltd has been elected as the Vice President of the industry body.