Prime Minister of India - Dr. Manmohan Singh

PM chairs Council of Trade and Industry meeting

The Prime Minister’s Council of Trade and Industry met this evening and offer exchange of views on the economic situation in the country. The meeting was attended by the following participants:

1. Shri Narayana Murthy, Infosys

2. Shri Rahul Bajaj

3. Shri Mukesh Ambani

4. Shri Ratan Tata, Tata Sons Ltd.

5. Dr. Ashok Ganguly, Chairman, First Source Solutions Ltd.

6. Shri Sunil B. Mittal, Bharti Enterprises (Delhi)

7. Ms. Swati Pirmal, Pirmal Health Care Pvt. Ltd.

8. Shri Deepak Parekh, Chairman, HDFC

9. Shri Jamshyd N. Godrej

10. Shri M.S. Banga

11. Ms. Chanda Kochar, MD, ICICI Bank

12. Shri Sunil Kant Munjal, Hero Corporate Service Ltd.

13. Ms. Anu Aga, Thermax Ltd., Pune

Permanent Special Invitees:

14. Minister of Commerce & Industry

15. Deputy Chairman, Planning Commission

16. MoS (IC), Environment & Forests

17. Chairman, Economic Advisory Council

The business leaders expressed their confidence in the fundamental strength of the Indian economy. They were generally of the view that the economy was poised to return to a high rate of growth in the near future. Many of them informed the Council of plans to invest in new projects in India, and stressed the need to expedite ongoing infrastructure and other mega projects. The Minister of Environment and Forests assured the business leaders that the Ministry was committed to clarity, consistency, transparency and time bound environmental clearances for industry projects. The industry leaders were assured that a mechanism would be put in place for sorting out bottlenecks in implementing large projects. In his concluding remarks, the Prime Minister exhorted the business leaders not the get distracted by the atmosphere of gloom and assured them that he and his government remained committed to the reform agenda as also to help industry achieve its potential.