With no clear signs of an economic turnaround, Prime Minister Manmohan Singh on Monday met leaders from the business sector and promised more reforms in the coming months.
At a meeting of the Prime Minister’s Council on Trade and Industry, Mr. Singh heard the business communities’ complaints and listened to suggestions to boost investors’ sentiment. He assured them of the government’s commitment to reforms. The agenda focused on measures to correct the current account deficit, counter rupee depreciation and its impact on trade and industry, improve skill development and focus on developing industrial corridors.
The overall sentiment was to convert decisions to action and take back the country to a growth path of 8 per cent or more, a PMO statement said.
“The Prime Minister wanted a report to be submitted within one month on what can be done in the next 2-3 months,” it said, after the three-hour meeting.
Reliance Industries Chairman Mukesh Ambani said the industry believed in the India growth story. The sentiment was echoed by Bharti Group chief Sunil Mittal who wanted the government to take “brave and bold decisions.”