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Need urgency in implementation of policy to overcome present crisis: Ajay Piramal

"How do we overcome the present crisis. Over the past several weeks, many policy announcements have been made, both for the short term and the long term. I find there is a difference in what the policy is articulated and when ground implementation takes place," Piramal said.

PTI|
Last Updated: Jun 02, 2020, 08.16 PM IST
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Ajay Piramal
"We need to move faster on implementation part by strengthening institutions, invest in brand building and address growth," Piramal said.
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NEW DELHI: A sense of urgency is required in implementation of policies to address issue of growth to overcome the current crisis, Piramal Group Chairman Ajay Piramal said on Tuesday.

He was speaking at a CEO's session held over virtual platform on the theme of 'Getting Growth Back' at the annual session of industry body CII.

"How do we overcome the present crisis. Over the past several weeks, many policy announcements have been made, both for the short term and the long term. I find there is a difference in what the policy is articulated and when ground implementation takes place," Piramal said.

What is important is that all the people concerned work together so that everyone understands the consequences and actually implement them, he added.

"We need to have an urgency in the implementation of policy. We don't have to be perfect... we need to move faster. What in a normal time would have taken one year for a policy to be implemented, it ought to be done in less than a month," Piramal said.

If the issue of growth is not addressed, there will be social issues. We need to keep on focussing on growth, he added.

"We need to move faster on implementation part by strengthening institutions, invest in brand building and address growth," Piramal said.

Stressing that the country needs to remove the fear factor in terms of unlocking the economy, Biocon Executive Chairperson Kiran Mazumdar-Shaw said the COVID-19 pandemic has focused the strong spotlight on healthcare.

"Healthcare can be the next IT sector for India. This is a real opportunity for India, because this is a huge employment opportunity for India," she added.

Science and innovation is now finally getting the attention as the government is seeing the importance of investment in this sector, Mazumdar-Shaw said.

She said that even though there is no vaccine available for COVID-19 at least for a year, she believes the treatments are going to be able to reduce the mortality fear associated with this disease and added that, "I think that we must start expanding testing in a big way".
(Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

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