Growth tune a hit with industry
India Inc strongly supports finance minister P Chidambaram's vision of Indian economy sustaining buoyant growth over 5-10 years.
By TNN |
Here's a confidence vote from India Inc to Team Manmohan. India Inc strongly supports finance minister P Chidambaram's vision of Indian economy sustaining buoyant growth over 5-10 years.
At the interactive session between select CEOs and the finance minister organised by ET, top industrialists said they were confident India would continue to grow, but the government needs to come out with some enablers to allow the industry exploit its full potential.
Certain issues, such as the social sector, need to be tackled, they agreed, while goading the FM to go all out for growth.
Bharti Group chief Sunil Mittal pointed towards the funding envisaged for infrastructure. He highlighted the fact that close to $1.5 trillion worth of investment would be required for the next two Five-Year Plans.
"There is no doubt in my mind that kind of investment going into hard infrastructure would generate tremendous amount of employment and buying power in India," said Mr Mittal.
HCL chief Shiv Nadar talked about the opportunities and challenges being faced by the IT industry and called for creation of certain 'enablers'. "India, with its $60-billion IT industry, is less than 1% of the global industry. So there is a huge potential.
If we look at the last 50 years, countries like China, Germany and Japan have shown economic resurgence built on flagship industries like manufacturing. For India, IT can serve that role," he said.
At the interactive session between select CEOs and the finance minister organised by ET, top industrialists said they were confident India would continue to grow, but the government needs to come out with some enablers to allow the industry exploit its full potential.
Certain issues, such as the social sector, need to be tackled, they agreed, while goading the FM to go all out for growth.
Bharti Group chief Sunil Mittal pointed towards the funding envisaged for infrastructure. He highlighted the fact that close to $1.5 trillion worth of investment would be required for the next two Five-Year Plans.
"There is no doubt in my mind that kind of investment going into hard infrastructure would generate tremendous amount of employment and buying power in India," said Mr Mittal.
HCL chief Shiv Nadar talked about the opportunities and challenges being faced by the IT industry and called for creation of certain 'enablers'. "India, with its $60-billion IT industry, is less than 1% of the global industry. So there is a huge potential.
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If we look at the last 50 years, countries like China, Germany and Japan have shown economic resurgence built on flagship industries like manufacturing. For India, IT can serve that role," he said.
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