India needs overseas Indians' investment: Manmohan
Friday, 07 January 2005, 20:30 IST
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MUMBAI: Prime Minister Manmohan Singh said Friday that India required an investment of $150 billion in infrastructure over the next decade for the country to achieve economic growth. "We need massive investments in infrastructure, both social and economic and rural and urban, to step up the rate of economic growth to 7 to 8 percent per annum," he said after inaugurating the Pravasi Bharatiya Divas here. "I believe the economy must absorb up to $150 billion of investment in infrastructure over the next decade for us to increase our growth rate," he said. Only then, he said, can "we generate more employment and eradicate poverty in our life time". He said much of the funds must come in as foreign direct investment and in substantial part from overseas Indians. "India needs your investment," he said, assuring them of making the country attractive enough to invest. "I commit our government to work to creating an environment conducive to the growth of the spirit of adventure and enterprise," Manmohan Singh said.
Source: IANS
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