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'India can match china in output'

Published: 28th April 2013 08:27 AM  |   Last Updated: 28th April 2013 08:27 AM   |  A+A-

Union Finance Minister P Chidambaram said India was capable of producing most of the industrial products that were being imported from China.

Addressing a gathering after laying the foundation stone of the business process outsourcing (BPO) delivery centre of Aegis Limited of the ESSAR group of companies in Sakkanthi, near Sivagangai, here on Saturday, he said the government should provide basic necessities like land allotment, water and power facilities without delay in order to promote industrial development. “China has done it in a short span of time by allowing private investment and providing basic facilities,” he said.

“In order to ensure industrial development in the country, we constituted a Cabinet committee on investment at New Delhi in January which is aimed at bringing out the details of stalled industrial projects in the country and facilitate its evolvement,” he said. Of the total stalled projects in the country worth `7 lakh crores, the committee has taken steps to push the evolvement of projects worth `1.5 lakh crores, he added. 

On employment opportunities the project has brought, he said, “The project would ensure direct employment to 500, besides indirect jobs to over 1,500 people, to be completed in 3 months. Since the company has decided to give first priority to locals, people of Sivagangai would be benefited,” Chidambaram said.



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