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Scindia stresses on social responsibility of businesses

Minister of State for Commerce and Industry Jyotiraditya Scindia urged businesses to consider their social responsibility not just as a means to save on tax, but as a way of contributing to the country. The minister was speaking at the annual general meeting of the Confederation of Indian Industry (CII) in New Delhi recently, reports SME Times.

Scindia suggested that businesses undertake more investment in R&D and skill development, and direct efforts towards connecting educational institutions with the industry. Stressing on increased collaboration between academia and industry, Scindia stated that this would go a long way towards ensuring the country’s inclusive growth.

He spoke about the importance of industrialisation in India’s overall economic development, adding that the industrial sector should help in generating employment for the approximately 70 million people who will be seeking a job in the near future.

Scindia also touched on the necessity of value addition in the industry and the government’s role in providing suitable policies that enhance the performance of the industrial sector.

He expressed confidence about Asia being the producer of 25 percent of the world’s total output by 2050.

Source: SME Times