By IPA Special Correspondent
New Delhi: The public sector undertakings (PSU), government’s strongest-ever asset should be invoked forthwith to not only revive the COVID19 pandemic infested economy but also drive the nation as a catalyst towards growth and development.
With their country-wide presence including far flung areas, the public sector has the capacity to not only Kick-Start the economy but also boost entrepreneurial confidence by establishing a chain of multi-product Joint Ventures with Small and Medium entrepreneurs (SME) to global standards and stimulate demand.
Unshackling public sector from bureaucratic and political control by moving these assets under a new Member, Public Sector, in NITI Aayog, setting up an Exclusive Stock Exchange for PSU Joint Ventures for access capital and Exit route for PSUs are some of the major recommendations of a study of the post pandemic economy carried out by the IPA Research Bureau, a division of India Press Agency (IPA).
The study conducted by Anand Vardhan, an economic writer with over four decades experience, seeks the creation of Technology Task Force under NITI Aayog to determine the nation’s technology requirements both civil and defence to make India a “Technological SUPERPOWER!”
Collated in a book Titled “Alternative Strategy For Unfettered Growth”, the study calls for these joint ventures to take up manufacture of anti Covid19 products for mass production not only for the home market but also build up exports essentially to the US, world’s single largest market. This will generate investor confidence and risk taking ability more so at a time when there is No Demand, No business and No Money in circulation.
The study calls upon the NITI Aayog to direct PSU joint ventures to target US Buyers of consumer goods including entertainment electronics, white goods, toys to move to India following worsening of the Sino-US relations. Besides, there is needs for targeted product promotion with exclusive product based fixed scheduled exhibitions throughout
the year on the lines of the Guangzhou, Shanghai, Beijing and Hong Kong, fixed scheduled product based exhibitions around the year.
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