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Industry captains welcome PM's infra initiatives

Industry captains today welcomed Prime Minister Manmohan Singh's push to infrastructure by setting an Rs 2 lakh crore investment target in the current fiscal to revert to 9% economic growth.

india Updated: Jun 07, 2012 19:49 IST

Industry captains today welcomed Prime Minister Manmohan Singh's push to infrastructure by setting an Rs 2 lakh crore investment target in the current fiscal to revert to 9% economic growth.

"Any investments and initiatives to spur economy and create jobs is welcome. I feel the PM's announcement is very good. Of course we need to make sure that there is action and get the work done," Infosys co-chairman Kris Gopalakrishnan told reporters on the sidelines of GIM 2012 here.

Bharat Forge CMD Baba Kalyani said it was a big positive. "Development of infrastructure is a major issue. For the last few months this sector has not been given enough attention. If it gets implemented, we should see some acceleration in growth. These are important projects," he said.

Asked what should be done to bring the country back on growth track, Kalyani said there was a need for faster decision-making in implementing infrastructure projects.

"There are delays of 10 to 15 years in implementing infrastructure projects. We have to come out of this mindset of delaying projects," Kalyani said.

JSW Group chairman Sajjan Jindal said the Prime Minister's move is a great step forward. "It is a good step initiated by Manmohan Singh," he said.

GVK Group Chairman GVK Reddy also welcomed Prime Minister's push to focus on infrastructure development.

At yesterday's meeting in New Delhi, Singh set ambitious targets for investments in ports and aviation sectors, power generation, coal production and railway freight carriage for 2012-13.