Global Slow Growth Opportunity For India, Says Arun Jaitley

By siliconindia | Thursday, 08 January 2015, 10:50 Hrs

KOLKATA: Observing that India needs to create an environment for cyclic investments and ease norms of doing business, Union Finance Minister Arun Jaitley pointed to the ongoing global slow growth as an opportunity for the country as investors are eyeing its market.

If the Union Minister, during his address at the two-day Bengal Global Industrial Summit, assured the Mamata Banerjee government of strong support in the state's industrial growth, the senior BJP leader later, at a party programme, hit out at the ruling Trinamool Congress for "obstructing parliament".

"We have to create an environment, where we not merely attract investment, but we also promise profitable returns of that investment. Our entire environment has to be such it ensures that investment will lead to greater investment," Jaitley said at the summit that saw participation of business captains from India and abroad.

The Union Minister said investments would trigger economic activity which will in turn boost growth and lead to job creation. He also called for easing out norms and rules governing investment to boost the industrial landscape and lead the growth.

"Many parts of the world are slowing down. And therefore, global investors are looking at us," said Jaitley asserting the manufacturing and infrastructure sectors will drive the country's growth and address the under-employment issue.