Growth in power sector will ensure 8-10 growth in GDP: Maran | business | Hindustan Times
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Growth in power sector will ensure 8-10 growth in GDP: Maran

Union Textiles Minister Dayanidhi Maran on Saturday said a 20-25 per cent growth in the power sector would ensure eight to ten per cent growth in the country's GDP and stressed the need for more investments.

business Updated: Mar 27, 2010 23:25 IST

Union Textiles Minister Dayanidhi Maran on Saturday said a 20-25 per cent growth in the power sector would ensure eight to ten per cent growth in the country's GDP and stressed the need for more investments.

"For achieving a 8-10 per cent growth in GDP, we need investments in the power sector which is needed for any industry to flourish", Maran said.

Tamil Nadu was in a better position with regard to power supply compared to neighbouring states "as there was more than 40-50 per cent power shortage prevailing there," he said.

The textile sector had reacted to global meltdown positively mainly due to strong domestic consumption."The total textile production is $62 billon in the country and domestic consumption was about $40 billion", he said at "Innovision 2010: A Session with Visionary leaders",organised by CII in Chennai.

On leather indstry,he said 45 per cent of leather products exported were from Tamil Nadu and 48 per cent of textile products contributed from the state.The State alone contributes 35 per cent of automobiles manufactured in India."Tamil Nadu has been playing a significant role and no wonder it is the most peaceful state and most progressive."

Maran said he would take steps for supply of CNG from Krishna Godavari basin to Southern states.States like Gujarat were flourishing because of presence of CNG and with support of Tamil Nadu and Central governments, he would take steps to ensure supply of the gas to the state.

He also supported "interlinking of rivers"."In the long run we neeed water and I am sure that Government will consider and start the process of interlinking of rivers."