Take the Plunge to Expand Market: PM to Business Honchos

Industry leaders also sought an interest rate cut to bring down cost of funds to boost capital spending.

Published: 09th September 2015 05:05 AM  |   Last Updated: 09th September 2015 05:05 AM   |  A+A-

Namo-reuters

NEW DELHI:Prime Minister Narendra Modi on Tuesday had a nearly three-hour meeting with the country’s top industrialists, bankers and economists to take stock of the global economic scenario.

Finance minister Arun Jaitley said after the meeting that Modi asked the industry captains to assume more risks and increase investments, while reiterating that India will remain relatively untouched by the global turmoil.

Modi urged the industry to focus on creating more employment by boosting spending and attracting global capital while improving ease of doing business. The Prime Minister laid thrust on low-cost manufacturing and felt that the strength of the economy is in its huge human resource and size of domestic market.

Commenting on the outcome of the meeting, Ficci president Jyotsna Suri said, “The Prime Minister said this is an opportunity for us to take advantage and invest... cost of capital is too high but I don’t know how many people can go ahead to take risk and invest... many of us raised the issue of interest rate.”

Industry leaders also sought an interest rate cut to bring down cost of funds to boost capital spending.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp