India Inc Asks Prime Minister To Remove Investment Hurdles

Tuesday, 30 July 2013, 10:20 Hrs
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New Delhi: India Inc asked Prime Minister Manmohan Singh to clear hurdles facing large projects and create an environment for investment driven growth, that has taken a battering due to external and internal factors.

"We have given suggestion in two categories, one for near term and one for longer run. For near term, we have suggested clearing of large projects and those projects which were cleared should now be executed," Federation of Indian Chambers of Commerce and Industry or Ficci president and HSBC India head Naina Lal Kidwai said after the meeting that lasted 160 minutes.

The Prime Minister wanted a report within a month on what could be done in the next 2-3 months to revive growth.

Reliance Industries chairman Mukesh Ambani, ICICI Bank managing director and chief executive officer Chanda Kochhar, HDFC chairman Deepak Parekh, along with heads of leading industry chambers brainstormed with the Prime Minister on the problems facing the country.

Others who attended the meeting included Rahul Bajaj, Narayana Murthy, Azim Premji, Swati Piramal, Deepak Parekh, Jamshyd N Godrej, Venu Srinivasan, Sunil Kant Munjal, S Gopalakrishnan and Sunil Bharti Mittal.

The high-level meeting of the Prime Minister's Council on Trade and Industry was attended by Finance Minister P Chidambaram, Commerce and Industry Minister Anand Sharma and Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan, among others.

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Source: PTI
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