Confederation of Indian Industry - CII services

Agriculture is the dominant sector of Indian economy, which determines the growth and sustainability. According to NSSO 70th round survey, cultivation of land is the primary source of income for almost 2/3rd (63.4%) of all the agricultural households.. Indian agriculture however, has milestones.

Food processing industry is of enormous significance for India`s development because of the vital linkages and synergies it promotes between the two pillars of our economy, industry and agriculture. Fast growth in the food processing sector and simultaneous improvement in the development of value chain are also of great importance to achieve favorable terms of trade for Indian agriculture both in the domestic and the international markets.

India is pegged as the fastest growing major economy in the world and is expected to retain this title in coming years. Growth is likely to remain strong in 2019-20 backed by healthy consumption demand and improved investment activity. The Economic Affairs and Taxation Department liaises with the Government in actively pursuing India’s growth agenda. It closely tracks developments in the Indian economy and contributes to policy formulation by organizing consultative meetings, seminars, conferences and workshops to bring together the Government and industry at the national and regional level. The Taxation Department works on direct and indirect tax issues as well as tax administration to provide feedback to the Government.

Innovation is about changing paradigms, creating new ideas, it’s a process which inspires change and creates value and “Innovation Ecosystem” is the principle catalyst for fostering rapid innovation and the translation of these innovations into large scale, successful businesses. India faces unique challenges in the field of Education, Infrastructure, water, energy and many more and hence the western model of Innovation Ecosystem is not suitable for it.

Manufacturing Industry in India has gone through various phases of development over the period of time. Since independence in 1947, the domestic manufacturing sector has traveled from building the industrial foundation in 1950’s and early 1960’s, to the license–permit Raj between 1965 to 1980. Then it underwent a phase of liberalization of 1990’s and finally to the present  phase of global competitiveness. The Indian Manufacturing sector currently contributes 16-17% to GDP and gives employment to around 12% (2014) of the country’s workforce. Various studies have estimated that every job created in manufacturing has a multiplier effect in creating 2–3 jobs in the services sector.