Chidambaram to meet India Inc on July 5

The meeting is in response to industry's clamour that the current Budget lacked a strong reform thrust.

The Finance Minister P Chidambaram is finally meeting the captains of Indian industry on July 5 to find ways to remove hurdles to achieve 12 per cent growth in the manufacturing sector.

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The meeting, deferred thrice, is being held with the apex industry associations in New Delhi to deliberate on the ways and means of achieving targeted growth rate in the manufacturing sector and to move on to double digit GDP growth.

The meeting is in response to industry's clamour that the current Budget lacked a strong reform thrust.

In his customary post-budget meeting with the chambers, Chidambaram had asked them to come out with list of hurdles that came in the way of 12 per cent manufacturing growth, which would be looked into by the Government.

The meeting was first planned for May 1, two months after the budget was declared by the Finance Minister.

However, as per the plan, industry chambers could not submit their recommendations two weeks before the deliberation resulting in the meeting getting postponed to June 17 and then to June 28.

Industry chambers have understood to have recommended flexible labour policy, financial and mining sector reform, fillip to small and medium sector enterprises.

Besides, investment in modernisation and expansion of vocational and technical training.