Pushing for Educational Investment: CII's Call for 6% GDP Allocation

The Confederation of Indian Industry (CII) suggests that 6% of India's GDP be spent on education. CII President Sanjiv Puri advocates for FTAs, market competitiveness, and sectoral growth to sustain the country’s projected 6.5% economic growth, particularly emphasizing the revival of manufacturing and MSME sectors.

Leading industry body, the Confederation of Indian Industry (CII), has recommended allocating six percent of India's GDP to the education sector. This proposal was highlighted by CII President Sanjiv Puri during a recent event, emphasizing the sector's pivotal role in sustaining economic growth.

Puri, who also serves as Chairman and MD of ITC, noted that India's projected economic growth rate of 6.5 percent is achievable. He pointed out the country's strategic position as a global capability centre, which can drive promising growth trajectories. Puri stressed the importance of free trade agreements (FTAs), especially with the European Union, as critical elements for economic enhancement.

Underscoring the need for comprehensive economic activation, Puri emphasized fostering agriculture, services, and manufacturing sectors. Revival of the manufacturing sector and boosting labor-intensive industries are crucial. Additionally, he highlighted the need for enhancing the competitiveness of micro, small, and medium enterprises (MSMEs) to achieve a robust eight percent growth rate.

(With inputs from agencies.)