NITI Aayog CEO Amitabh Kant played the structural reforms card to the hilt, saying India has taken a string of steps that include enactment of GST and demonetisation with a focus on achieving sustainable growth of 9-10 percent in the next three decades.
"We are undertaking structural reforms in India from the Bankruptcy Law to the Goods and Services Tax to demonetisation," he said.
Stressing that major structural reforms will have a huge impact on India's growth in years to come, Kant said India is currently going through "short term pains" for long-term gains.
"Our ambition is to grow at 9-10 percent over a three-decade period and on a sustained basis, that is why the government has launched several new initiatives," he said in presence of Israeli President Reuven Rivlin.
Addressing Rivlin, Kant said: "We (Indians) are your great admirers for your full support to India in fighting terrorism." He further spoke of criticality of India's relationship with Israel as the country needs to drive its defence manufacturing.
"If Make is India is to succeed, defence manufacturing must take place in India. We are one of the largest importers of defence machineries. We must manufacture in India," Kant added.
"We have steadily increased our defence cooperation with Israel. Today, Israel is India's third-largest defence supplier." According to the CEO of the government think-tank, bilateral cooperation between India and Israel has evolved from defence to counter-terrorism and cyber security and these areas are going to grow and expand.
Outlining avenues for increasing bilateral synergy, he made a specific mention of water management "where we have a long way to go". Terming water as India's biggest challenge, his prescription was: "We have to learn from knowledge, expertise and experience of Israel." Kant said: "In many ways, how India manages its water resources will be the key to India's future. Israel's expertise in water management, conservation and drip irrigation needs to be utilised by India to manage its water challenges." He was addressing the 'India-Israel Economic Forum' organised by chambers Ficci, CII and Assocham.
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