India Will Be Made 'Generator And Inverter Free': Power Minister

Speaking on the telecom sector, Marten Pieters, MD & CEO of Vodafone, said, "Telecom sector needs more focus. Currently it maybe the focus for this government, but it is a mess. The thinking of how to get to the goals is not there even in the new government."

Amitabh Kant, secretary, Department of Industrial Policy and Promotion, highlighted the government's decisions to ease conducting business in India. "It has cut out rules, red-tapism and bureaucracy. Government is taking steps for fiscal credibility and consolidation, creating smart cities and improving confidence of investors. It is not against liberalization of trade policies. It will find the right path between food and trade policy.

"India has been a reluctant urbaniser, but this is changing. Strategy of this government is to have Chennai-Bangalore corridor, Amritsar-Kolkata corridor and others apart from DMIC leading to smart cities and hence manufacturing," he said.

Jayant Sinha, member of parliament, highlighted the issue of FDI in multi-brand retail saying it should not be the litmus test.

Key sessions at the Summit 2014 focused on a wide array of discussions including what the new government can do to restore confidence and revive India's corporate animal spirits; the current economic challenges including policy paralysis, stability, infrastructure, pollution and food security; how the internet has changed the Indian consumer landscape and how Internet-based firms are poised to be the new kings and queens of consumerism; if women can assert themselves among corporate hierarchies; if the new government's reform efforts will get India's growth rate moving towards double digits; if reform will help boost manufacturing and create enough jobs to absorb workers, and if the existing reforms are enough to ensure India is safe from a currency crisis.

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