Amid slowdown and decelerating growth, Finance Minister Pranab Mukherjee will meet captains of industry on June 26 to firm up steps to rejuvenate the manufacturing sector and the economy.
“Top industry leaders who would be attending the meeting (on June 26) would include Mukesh Ambani, Anil Ambani, Ratan Tata, Sunil Bharti Mittal and Y. C. Deveshwar,” said a top official in the Finance Ministry.
“Finance Minister will hear their concerns and see how it can be addressed,” the official added.
The meeting, called by Mr. Mukherjee, he added, would be a follow-up of a conference held in August last year to give a boost to the manufacturing sector.
The industrial output growth rate remained flat in April recording a growth of just 0.1 per cent mainly due to poor performance of the manufacturing and mining sectors and lower output of capital goods.
Besides global factors, tight liquidity conditions at home have also led to decline in economic growth rate which fell to nine-year low of 6.5 per cent in 2011-12.
Battling perception of policy paralysis, Prime Minister Manmohan Singh had earlier this month met industry leaders and had set an investment target of at least Rs.2 lakh-crore for core sector projects in the current fiscal.