Productivity key to economic growth: CII
Industry body CII on Tuesday said Indian industries and the government should realise productivity is the key to economic growth.
By PTI |
CHENNAI: Industry body CII on Tuesday said Indian industries and the government should realise productivity is the key to economic growth.
Over 70 per cent of the Indian population is engaged in agriculture and allied activities, which contributes less than 20 per cent of the GDP, CII President R Seshasayee on Tuesday said addressing the Inaugural session of the 7th Total Productivity Maintenance (TPM) National Conference.
"This means that productivity of the farm labour and the value addition of the produce is extremely low," he said. Having the advantage of low cost manufacturing base alone was not enough for India in the long run, he said, adding only sustainable growth in innovation would help the industry to grow.
Seshasayee said, "we need innovation not only in products but also in quality improvements at the shop floor. We need non-linear way of finding solutions by converting the knowledge into ideas and innovation."
He said though Japanese investment in India was less, they had made considerable knowledge investment. "TPM is a continuous journey where every second is important in wealth creation and knowledge acquisition."
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The core values of TPM were about Kaizen activities, maintenance, participation and growth, TPM Club India Advisor Kinjirou Nakano said.Download
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