Centre sees dists as growth engines

Hyderabad: Union Minister of Commerce and Industry Suresh Prabhu on Saturday said that the Centre is devising new strategy considering every district a focal point in the economic growth of the country.

Speaking to newsmen on the side lines of BioAsia -2018 summit in Hyderabad, the Union Minister said that the districts have the potential to grow economically by using the local resources in the area of services, agriculture, manufacturing which contributes to the national GDP (Gross Domestic Product). To create healthy competition among districts to grow, the Centre will take the district development as a parameter in the finalisation of EoDB (Ease of Doing Business) ranking.

“If GDP of the all the districts goes up by 3 per cent, then India’s GDP will also go up by 3 per cent,” he explained. To promote unique products produced in the districts at the international level, his ministry is launching a mega campaign which will help to the local artisans and manufacturers. The Union Government will create geographical indicator for each district soon, he explained.

“We started a campaign to give graphical indicators for each of certain products which are identified with a particular place. Like Benares saree and Hyderabad Biryani and Pochampally sarees. Once we identify that (geographical association of the product), the local artisans will get an IPR (Intellectual Property Rights) for the particular product. The Centre is going to involve all state governments soon,” Suresh Prabhu said.

To a query, the Union Minister said exports and FDIs are on the rising path. “What we are sure is our exports are rising. We are seeing a good pipeline of FDI. We are expecting large number of countries showing interest in India. Now we have simplified the FDA rules so much that most of the FDI that comes into India comes through automatic route and does not need any government approvals as such.”