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Invest in India, Pranab urges Diaspora

He urges them to impart their expertise and capital towards boosting India's growth, reports Srinand Jha.

india Updated: Jan 11, 2007 13:22 IST

Stating that India stands at a “definitive threshold” in its developmental experience, External Affairs Minister Pranab Mukherjee on Monday called upon the overseas Indian community to impart their experience, expertise and capital towards boosting growth in infrastructure, agriculture, energy and the social sectors.

Addressing a gathering of expatriate Indians at the ongoing Pravasi Bharatiya Diwas, Mukherjee said that huge investments were required in these sectors for ensuring the country's balanced economic development. "You are the people who can greatly contribute for enabling India to be on the path of development and reforms", he told the delegates.

Underscoring the need for investments in the farming sector, Mukherjee pointed out that the "contribution of agriculture towards GDP had been progressively declining, resulting in negative fallouts like suicides by farmers". The main problem of farmers, he said, was towards surmounting the vagaries of weather and issues concerning the processing and marketing of agricultural products at remunerative prices.

The minister expressed concern about the unequal trajectory of development and called upon laggard states to carry out reforms needed for attracting investments. The country's future growth prospects will be substantially governed by what the states do, he said, while adding that "there is clearly a need for ensuring that good governance and fiscal prudence are brought centre-stage". He underlined the need for evolving participative models for sustainable development in rural areas. In the infrastructure sector, he referred to a situation of a "large deficit" in development and called for aggressive investment including FDI for shoring up facilities at ports, highways, airports, transport and urban infrastructure.

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