Industry should start thinking innovative: Patil

Punjab Governor Shivraj Patil on Sunday said it was high time that industry started thinking innovative and finetuning their strategies to cope up with the difficult and changing business environment.

"There should be no limitation on using the potential which is with us. Whatsoever is produced should be made available for users. Production is necessary but distribution of production in a just manner is most necessary and important. The economic reforms mean managing our productive activity in such a manner that it helps increase production and productivity, and helps consumers and all in society to meet their demands, and to march in the directions which can cope up with the challenges of the future," said Patil while addressing the 34th annual function of Ludhiana Management Association here.

He remarked that economic liberalisation meant that the government, public private entrepreneurs and individuals were given opportunities and facilities to use their skills, funds knowledge to produce commodities, goods and services in the best possible manner. "The industry has to understand the concept of planning. We need to have short-term, medium-term and long-term planning to get the desired result. The idea of nuclear technology was conceived by the late Pt Jawaharlal Nehru and today we are enjoying its result. In the past, capital, management and labour helped industry to function and produce good results. Now there is going to be competition between all producers of commodities, goods and services. New technologies are coming into existence. Indian industry needs to produce technologies and new methods of production to compete with the industries in the world," he added.

Patil stressed using solar energy on which the Centre was giving 30% subsidy and 80% tax rebate.

Later, he distributed four LMA awards.

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