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HindustanTimes Fri,26 Dec 2014

Rahul to discuss economy with captains of industry

Gaurav Choudhury and Aurangzeb Naqshbandi, Hindustan Times  New Delhi, September 25, 2013
First Published: 23:41 IST(25/9/2013) | Last Updated: 23:44 IST(25/9/2013)

Rahul Gandhi will meet a group of top industrialists on Saturday amid speculation that the Congress Vice President will discuss a range of issues including the current downturn and the policy gridlock that are holding up investments, vital to spin jobs and multiply income in a slowing economy.

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A former top executive of global consumer goods giant is playing a lead role in organising the meeting between Gandhi and the industry leaders, sources said.

The meeting is expected to discuss a range of issues including measures to halt the slide in the Indian economy, which until recently was an engine for global growth.

This would be his second meeting with business leaders after his address at a Confederation of Indian Industry (CII) meeting in April where Gandhi had said that the development model of India should be designed on the principles of a “beehive” where the stakes and benefits of growth are evenly spread among the poor and the rich.

The meeting on Saturday, to be held at Gandhi’s Tughlak Road residence in New Delhi, will also likely discuss measures to boost India’s the small and medium enterprises, the cornerstone of India’s manufacturing sector, sources told HT.

The meeting between the Congress leader and industrialists come at a time when policy makers are struggling to turnaround a deeply hurt economy hit by a toxic mix of a free-falling rupee, dipping investment, high borrowing costs and rising prices.

India’s economic growth has crashed to a nearly-four year low of 4.4%  during April-June this year  from 4.8% in the previous quarter proving fears of a widespread slowdown as factories are producing less, companies are offering fewer jobs and prices continue to remain high.


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