President A P J Abdul Kalam on Wednesday asked the industry to encourage entrepreneurship to achieve an economic growth of 10 per cent and help eliminate poverty in the country.
"We have to graduate to 10 per cent gross domestic product growth; only then the number of people living below poverty line will reduce to zero from 260 million now," Kalam said at the 76th annual general meeting of the Federation of Indian Chambers of Commerce and Industry, in New Delhi.
As part of his 'Integrated action plan for developed India by 2020', Kalam said the syllabus at the school level needed a change to create entrepreneurs, and industry must nurture and encourage entrepreneurship.
To transform into a developed nation by 2020, Kalam pointed out that the industry will have to become competitive globally by achieving cost effectiveness, brand performance and 'just in time' delivery.
"Whoever is competitive will be the winner. The law of development states that whoever is competitive will win whether developing or developed," he said.
Outlining the programme for urban amenities in rural areas, Kalam said it has to be run in a business-like fashion and the industry will have to play a key role in implementing it.
Kalam said the time has come for the second Green Revolution in the country to meet the food requirement of 400 million tonnes by 2020.
He said this could be achieved through a mix of technology and innovation.
India must convert its natural resources like vast coastline, minerals and biodiversity as vehicles to transform the Indian economy into a prosperous one, he said.
He asked the financial institutions like banks to provide venture capital to entrepreneurs at the village-level for creating employment opportunities.
Earlier, addressing the AGM, FICCI's outgoing president A C Muthiah sought legislative changes in the areas of labour and free entry and exit option.
Suggesting a charter for putting the country on a high growth trajectory, he sought deepening of the divestment programme, infrastructure reforms, correction of the fiscal situation of states and rejuvenation of the manufacturing sector.
