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Tuesday, February 27, 2024

The role of Technology is Significant in promoting Business Growth: Manmeet K. Nanda

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The role of Technology is Significant in promoting Business Growth: Manmeet K. Nanda

PHDCCI organize Investment Road Show

Chandigarh: Manmeet K.Nanda, Joint Secretary, Department for Promotion of Industry, and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, Government of India, emphasized the importance of government policies and the use of technology in boosting business growth.

Nanda was speaking as the Chief Guest at the UNNATI India Opportunity Series: Investment Roadshow organized under the Advancement India Series by PHD Chamber of Commerce and Industry, addressing industrialists from Punjab and Chandigarh.

Manmeet K Nanda was reiterated that the government’s practices and policies focus on the use of technology for ease of doing business. She highlighted that the Department has been able to reduce forty thousand regulatory compliance burdens. She had also mentioned that India has witnessed a significant digital transformation in recent years, with the government’s push towards a digital economy. Initiatives like Digital India and demonetization have enabled digital payments, increased financial inclusion, and streamlined government services.

 R.S. Sachdeva, Chair of PHDCCI Punjab Chapter, welcomed the guests and highlighted the significant efforts by the Indian government to encourage domestic investment. These initiatives aim to boost economic development, create employment opportunities, and attract both domestic and foreign investors.

Utsav Negi, Assistant Vice President of Invest India, during the event, Utsav Negi, Asst. Vice President, Invest India, discuss the macro economy of India and its growth trajectory. India’s macroeconomic indicators have shown promising trends in recent years, indicating a growth trajectory shared the some of the recent trends, reforms, and initiatives taken by the Indian government to promote investments and drive economic growth.

 During the session, Dr. S.P. Sharma, Chief Economist, PHDCCI, stated that India is currently the fastest-growing economy among the leading economies. India will be a growth leader among top ten economies with an average growth rate of more than 6 percent followed by China. He added that the chamber looks forward to hosting numerous events that promote investment collaboration.

During the event, the team of Invest India presented on varied business practices. Ms.Sheena Bhailak, Manager, Invest India Focus Sectors of Chandigarh and the key Industrial Areas, and their best Practices’. Mr.VenkateshSahni, Associate,InvestIndiadiscussed on the ‘Insights into various incentives and policies of neighbouring states’. Mr. Agni Jasthi, Assistant Manager, Invest India shared the National Single Window System – Features and how Industries can avail benefit of NSWS’. Dr.Surabhi Gupta, Sr. Manager, Invest shared the Startup India – Government Initiatives for Startups and Entrepreneurs.

The session concluded with the vote of thanks presented by Mr.Suvrat Khanna, Co-Chair, Chandigarh Chapter, PHDCCI,India has made considerable progress in improving its ease of doing business rankings.

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