Railway Minister says Industry Needs to be More Competitive

Published: 30th January 2015 05:59 AM  |   Last Updated: 30th January 2015 11:55 AM   |  A+A-

BENGALURU: More than 600 delegates and thousands of students attended the inauguration ceremony of the International Conference of the Institute of Chartered Accountants of India (ICAI) here on Thursday. Railway Minister Suresh Prabhu inaugurated the conference.

The theme of the threeday conference is ‘Building Global Competitiveness; Accelerating Growth’. Delegates from various states and many from international branches of ICAI are speaking on different topics during the conference.

At the inaugural ceremony, Prabhu, himself a CA, said India needs to concentrate on creating jobs. “China is one of the few countries that has benefited from globalisation. India needs to accelerate its growth and rid itself of the problems of low growth, high poverty and high unemployment,” he said. “Indian markets and industries need to be more competitive and also ensure global competitiveness,” he added.

The conference, being held at the Bangalore Palace, will have lectures and discussions for students on topics like professional opportunities abroad, cyber security and also for industry professionals on empowering small and medium enterprises and attracting foreign direct investment to India.

Former union minister K Rahman Khan, who is also a CA, said the professionals need to focus more on upgrading the government accounting system.

Prabhu also said the Railways has taken a step towards changing its accounting system.  


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