Bhubaneswar: Shri Pankaj Lochan Mohanty, the Chairman of the Odisha State Council, ASSOCHAM, India’s remarkable 7.8% GDP growth is a result of a strong partnership between the Government and Industry.
Industry Czar, Shri Mohanty, who also serves as the President of the Odisha Cricket Association (OCA), has consistently highlighted this collaboration as a critical factor in the nation’s economic success. He has also been a vocal advocate for leveraging technology, particularly AI, to transform the manufacturing sector.
ASSOCHAM, Odisha Chief emphasizes that the sustained growth of the Indian economy is dependent on the continued strengthening of its manufacturing and services sectors. The recent surge in GDP, which reached a five-quarter high, was primarily fueled by robust performances in these two areas. The services sector, in particular, showed a strong expansion.
To ensure this momentum continues, Shri Mohanty has pointed to several key initiatives:
He has stressed the importance of PPPs in attracting private sector funding, sharing risks, and bringing in innovative solutions for large-scale infrastructure projects. This collaboration is seen as vital for accelerating development and creating a more inclusive and sustainable economy.
Shri Mohanty has been a proponent of using technologies like AI to redefine manufacturing processes, enhance efficiency, and promote sustainable growth. The ASSOCHAM-Primus Knowledge Report, “AI-Driven Manufacturing: Innovation, Efficiency & Sustainable Growth,” reinforces this vision, highlighting how AI can boost productivity and reduce costs.
Shri Mohanty said that the government’s initiatives, such as the “Make in India” and “Gati Shakti” campaigns, are crucial for boosting manufacturing competitiveness and developing essential infrastructure. Programs like the Production Linked Incentive (PLI) scheme and efforts to support Micro, Small, and Medium Enterprises (MSMEs) are also central to this growth strategy.
Shri Mohanty views agreements like the India-UK Free Trade Agreement (FTA) as a significant step toward empowering local economies and providing duty-free access for Indian exports to global markets, which is particularly beneficial for MSMEs and the agricultural sector.
The government’s continued focus on these areas, combined with private sector investment and collaboration, is expected to maintain India’s position as a global economic powerhouse.