Industry hails move on foreign investment, PPP

  • HT Correspondent, Hindustan Times, Ludhiana
  • Updated: Jul 09, 2014 11:51 IST

The government’s proposal on allowing foreign direct investment (FDI) and public-private partnership (PPP) in railways has been welcomed by the industry here.

The Federation of Associations of Small Industries of India (FASII) on Tuesday hailed the railway budget, while terming it “practical and in the right direction”.

FASII president Badish Jindal said, “Major demands of the FASII such as FDI in railways and development of railways with BOT system through PPP model have been accepted by the railway ministry, while automated rebate management system for returning freight coaches will be very helpful for the industries in Punjab.” He added that the mandatory e-procurement above Rs 25 lakh would bring the corruption down.

“The major demand from the industry was of freight corridor, which even got a mention in railway minister Sadananda Gowda’s speech,” Jindal added.

Gurmeet Kular, president, Federation of Industrial and Commercial Organisation (FICO), said we were expecting that the Narendra Modi government would emphasise on freight corridor and would start it soon. “However, our hope is not diminished, as the Prime Minister has emphasised on the growth of industries.”

The announcement of facilities was a good step forward and hopefully these would be implemented soon, Kular added.

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