At the last 117th Annual Session of Merchant Chember of Commerce (MCC) and Industry was graced by the presence of Smriti Irani, Union Minister of Textile. In her speech on that occasion she pointed out that Indian economy has been experiencing satisfactory growth. She mentioned that India has recently been able to surpass France in GDP and going to surpass UK in the coming year and stand as the fifth largest economy. She pointed out the effectiveness of the implementation of Suraksha Bima Yojna for the poor, Mudra Yojna for the rural industry of which 70% are women. On high NPA in the banking, she thinks that due to huge loans to unviable projects in the previous regime. She praised the government’s role in implementing GST. She also mentioned some of the economic aspects like fiscal discipline, FDI.
On this occasion the outgoing President of the Chamber, Ramesh Agarwal, mentioned the role of reforms in the economy. He also pointed out that the government should put more focus on employment generation in the economy.