The Hindu : National : Pranab: rural revolution holds the key

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Wednesday, Oct 10, 2007
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National

Pranab: rural revolution holds the key

Special Correspondent

‘Promote investments, economic activity’

“Help rural enterprises climb up value chain”
Committed to cent per cent financial inclusion: Bansal

NEW DELHI: External Affairs Minister Pranab Mukherjee on Tuesday called for a revolution by creating and empowering rural enterprises, enabling them to climb up the value chain and replicating rural entrepreneurial success stories throughout the country.

He was delivering the valedictory address at the India Rural Business Summit, organised here jointly by the Federation of Indian Chambers of Commerce and Industry, the Department of Commerce and the Rural Development Ministry with the support of nine Central ministries.

That business worth Rs. 2.5 crore was generated during the two-day summit by 42 rural exhibitors was proof of the innovation of the rural populace in making world-class handmade products.

“The challenge that we face is how to create a revolution to upscale rural enterprises. We need to devise a framework that would enable rural enterprises to climb up the quality value chain. We also need to look at how we can create networks, both domestic and international, to market the genius of people who reside in rural India.”

One of the critical issues facing the country was migration to urban centres. With a projected migration of an additional 140 million people between now and 2020, the pressure on cities would become insurmountable.

“The only real and sustainable solution lies in promoting rural business. Promoting investments in rural areas would make growth inclusive and a higher level of economic activity in the rural areas would empower the rural populace as well as strengthen our democratic institutions,” Mr. Mukherjee said.

Earlier, Pawan Kumar Bansal, Minister of State for Finance, chairing a session on ‘Leveraging financial services to rural entrepreneurs,’ said the government was committed to achieving cent per cent financial inclusion in the shortest possible time.

“I have personally visited 306 districts and in 206 districts banks have been directed to ensure 100 per cent financial inclusion, beginning with a no-frills account for the people.” The government’s effort was to provide timely, adequate and hassle-free credit to the rural folk through the medium of correspondent banking.

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