Mr. Morarji Desai, Union Minister for Finance, stressed the need for developing the country industrially as fast as they could and bring the “take off period” much earlier. Mr. Desai, who was declaring open the new building of the Industrial Credit and Investment Corporation of India before a distinguished gathering of industrialists, businessmen and bankers in Bombay on May 5, said that it could not be denied that the country had made good progress during the last 12 years but they had to progress still further because the needs of the country were very great and there were numerous difficulties to be surmounted. Mr. Desai congratulated the Corporation on its progress and said that the country required many financing agencies in order to develop the country. The ICICI was a good example of private and public sectors and acted as a liaison body between the two sectors.