Decisive govt at Centre crucial to push India's growth trajectory to next level: PHDCCI

In order to push India's growth trajectory to the next level and further improve the ease of doing business scenario, PHD Chamber of Commerce and Industry (PHDCCI) has expressed need for a decisive government at the Centre. 

PHDCCI President Rajeev Talwar highlighted that India is the fastest growing emerging economy in the world and has been projected to attain a size of $5 trillion in the next five years. He also said that significant improvement in the ease of doing business in recent years is highly appreciable, but the effect should become visible at the ground level with ease of doing business rankings improving to the level of 25.

Talwar also expressed need to reduce corporate tax to a level of 25% for all corporate taxpayers without any turnover criteria to enhance collections and improve compliance, further adding that the focus should be on exploring new areas to revitalise exports growth with the improvement in logistics infrastructure and trade facilitation measures. He said this would enhance the exports growth trajectory and create millions of jobs in the next five years.

Besides, PHDCCI President noted that privatisation of railway and road transport on the lines on the aviation industry is the need of the hour and the next five years would be extremely crucial for India's economy as the enhanced growth trajectory needs to be matched with job creation for millions of youth in workforce.