By The Hindu Bureau
Copyright thehindu
“We are the fourth largest economy at $4 trillion. In per capita terms, we are quite below. The size of the economy has little relevance to the standard of living of the people,” said T. K. Balaji, chairman and managing director, TK Balaji, Lucas TVS Ltd. and TVS Indeon Ltd. in Chennai on Monday.
Speaking at the 189th Chamber Day celebrations organised by the Madras Chamber of Commerce and Industry (MCCI), he said that every Indian has to enjoy a certain standard of living and only then can we call ourselves a developed nation.
Advising young people taking up opportunities in new fields to invest in their research and development department he said, “Go for the next generation for technology and put your department on top of that. Don’t waste time developing what’s already available in the world.”
Noting the recent fair trade agreement signed between India and the United Kingdom British Deputy High Commissioner, British Deputy High Commission, Halima Holland said, “This agreement is not only a major economic milestone, which is projected to boost natural trade by 25.5 billion annually in the long term, it’s also a gateway to transformative opportunities in sectors that matter to both nations.”
The MCCI president and managing director, Chemplast Sanmar Ltd. Ramkumar Shankar said that when the founders established MCCI in 1836, they envisioned an institution that would shape commerce and society for generations to come. “As we approach our bicentenary, our responsibility is to renew that vision,” he added.
The logo for 190th year celebrations was also unveiled on the occasion. The MCCI vice-president and president, Delphi TVS Technologies Ltd., A. Viswanathan also spoke.
