Top industrialists met Prime Minister Dr. Manmohan Singh during the maiden meeting of the recently constituted Council for Trade and Industry to discuss the present economic scenario in the country. Both sides put forth suggestions to improve the current state of affairs.
The meeting was chaired by Prime Minister and was attended by Finance Minister Pranab Mukherjee, Commerce and Industry Minister Anand Sharma and Chairman of PM’s Economic Advisory Council C Rangarajan. The industrialists present were Ratan Tata, Mukesh Ambani, Sunil Mittal, Azim Premji, Kiran Mazumdar Shaw, Chanda Kocchar, Deepak Parekh, Kesab Mahindra and Swati Piramal among others.
One of the main topics believed to have discussed was the possible impact of European crisis on the Indian economy. PM stressed on the need to give a boost to the manufacturing sector to realize the target economic growth of 10% in medium term. PM also exhorted the industry to reach out to rural economy and contribute in the efforts in skill development. He asked industrialists to form subgroups based on their interest in areas such as food security, public-private partnerships, backward area development and corporate social responsibility and give recommendations to the government.
The industry honchos have asked the PM to provide them relief in case of European financial crisis affecting Indian industries. India Inc also favored relaxing of FDI norms for defense sector and opening up of multi-brand retail. The industrialists are also believed to have made known their concern for the sharp fluctuations in the exchange rate affecting exports. Speedy implementation of Goods and Services Tax (GST) is another demand raised by India Inc.
This is the first meeting of the industrialists with government post European crisis. The Council was set up to find ways to improve India’s trade relations with other countries.
No related posts.
Related posts brought to you by Yet Another Related Posts Plugin.
