Year 2020, India Vision and a rear view look: Closed door Deep dive session on Economic cum Industry wide challenges
The Bangalore Chamber of Industry and Commerce (BCIC) cordially invites the members for “Year 2020, India's Vision and a rear view look: Closed door Deep dive session on Economic cum Industry wide challenges” on Friday, December 13, 2019 from 4.00 to 5.30 pm (Registration: 3.30 pm) at the CR Board Room, BCIC Office.
Twenty years after it set its Vision 2020 goals, it is time to see how India has fared. What did the forecasts say then ? Did we do enough to meet the targets that we set out to achieve?
In 2000, India was counted amongst the famous BRIC economies who were supposed to rapidly increase their dominance over the global economy. While Brazil and Russia disappointed Jim O’neill , the Goldman Sachs economist who coined this term, China and India have done well, possibly better by way of Gross Domestic Product ( GDP) growth than was forecasted.
A major share of manufacturing went to China and India hoped to follow suit by increasing manufacturing’s share to 25% by 2022. This would add another 100 million jobs , it was predicted. However, manufacturing got struck at 16.1% of GDP, within industry that accounts for 29% of GDP. Agriculture contributes 17% and a dominant services sector makes up the balance.
The $ 5 trillion economy that defines the PM’s Vison 2024 will need a far more inclusive agenda, where sharp gender gaps, lack of digital access and poor quality infrastructure are tackled immediately.
India continues to be an economy with great potential , but will need concerted efforts over the next 20 years if it must go on to become a developed country by 2040.
What is the objective of this session
While there are many facets in a country’s economic growth like Demographics and Jobs, Education, Hunger and Malnutrition, Health, Growth and Poverty, etc, this session would involve a deep dive with the members of our Chamber to facilitate an understanding of where each of us stand and what their opinions and views are with respect to their day to day and year on year growth and whether they are satisfied with the outcome in their personal and professional lives. By hearing the views of our members, let us finalise what the Chamber can do to help overcome common grievances pertaining to the economy.
How do we plan to conduct it
To aid this discussion, we would like to make an offer to all our members representing their organisations to come prepared and give a 2 mins talk about how they feel about the current slowdown , if any and whether it is gloom and doom or whether there are green shoots or is there a silver lining to cheer about. This meeting is to facilitate a closed door discussion amongst our members without any fear or favour from any unknown quarters. The event shall be moderated by our Economic Affairs team members.
It is a first of a kind and so please participate, listen to our own members without interrupting anyone and enjoy the evening.
Registration: First-come-first-served basis; Participation by invitation only