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India Inc lauds PM's inclusive growth agenda

business Updated: May 24, 2010 21:06 IST

India Inc on Monday lauded Prime Minister Manmohan Singh's strategy for inclusive growth and to rein in inflation.

"FICCI is fully in agreement with the prime minister's three-fold strategy of increasing investments in social and economic infrastructure, enhancing productivity in agriculture and giving a fresh impetus to the manufacturing sector," Rajan Bharti Mittal, president of the industry lobby, said.

He urged the government to frame a clear manufacturing strategy.

"India's industrial sector is performing rather robustly and this can be further enhanced through a suitable manufacturing policy," Mittal said.

Assocham president Swati Piramal welcomed the prime minister's twin focus of reining in inflation and achieving an 8.5 percent growth in 2010-11. She said that for 10 percent growth in medium term, the reform process should be taken further at various levels, including social and financial sector.

"Concerted efforts in these directions would make the growth of the (world's) second fastest growing Indian economy more sustainable and inclusive," she said.

The chamber also urged the government to take note of external shocks and developments owing to sovereign debt crisis in European economies.

At a press conference, the prime minister said India performed better than most global economies and will grow at 10 percent in the medium term with moderate inflation even as social inclusion would remain at the core of government agenda.

He said the government attached the highest priority to containing inflation.

He said the deprived communities, including the scheduled castes and scheduled tribes, other backward classes, minorities and women, will continue to receive priority attention.