India Inc on Monday welcomed Prime Minister Manmohan Singh's focus and strategy on reining in inflation and pushing up the pace of the Indian economy's growth to double digit.
Federation of Indian Chambers of Commerce and Industry (FICCI) President Rajan Bharti Mittal underlined his agreement with the PM's strategy for a double digit growth for achieving inclusive agenda, besides emphasising on increasing investments in social and economic infrastructure, enhancing productivity in agriculture and giving a new impetus to the manufacturing sector.
Mr. Mittal also said that the emphasis on creating a capacity of 20,000 MW grid for solar power by 2022 was also a welcome measure given the constraints in the power sector and environmental considerations for ramping up power production.
Associated Chambers of Commerce and Industry of India (Assocham) President Swati Piramal lauded the PM's focus on containing inflation and stressing on a robust growth and his political and macro-economic leadership that helped India withstand the global economic crisis. Dr. Piramal called for managing inflationary pressures and capital flows at the policy level to cope with the current situation as they still remained the biggest deterrents to the stability of the economy.
The PHD Chamber endorsed the PM's thrust on growth both in the economic and political domain particularly in the face of the global challenge arising from the recent crisis in the Euro-zone.