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DOMESTIC STIMULUS ENCOMPASSING RURAL INDIA CAN DRIVE MANUFACTURING
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DOMESTIC STIMULUS ENCOMPASSING RURAL INDIA CAN DRIVE MANUFACTURING
For Kamal Nath, commerce minister in the outgoing cabinet, the past five years have been spent in aggressively articulating India’s stance in global trade talks, even as he pushed for greater liberalization on foreign direct investment (FDI) and special economic zones on the home front. He spoke on his views on India’s growth and its FDI policy.
Edited excerpts:
What are the key sectors?
We have to look at the manufacturing sector all across. One job in manufacturing creates three in services. There are sectors, which are hit by the global recession like gems, jewellery and textiles. These sectors have to adopt and adapt and the government must play an enabling role in them being able to adopt and adapt.
What about the retail sector? Will you open it to FDI?
Well, not for the time being. We’ve done some studies and it still requires more work.
Which other sectors will you look at for rationalizing or liberalizing?
There are some procedural issues, which sometimes create roadblocks. Most of our sectors are open. So it’s not a question of opening but streamlining.
Source:
http://Nayantara Rai, New Delhi, Mint
Edited excerpts:
What are the key sectors?
We have to look at the manufacturing sector all across. One job in manufacturing creates three in services. There are sectors, which are hit by the global recession like gems, jewellery and textiles. These sectors have to adopt and adapt and the government must play an enabling role in them being able to adopt and adapt.
What about the retail sector? Will you open it to FDI?
Well, not for the time being. We’ve done some studies and it still requires more work.
Which other sectors will you look at for rationalizing or liberalizing?
There are some procedural issues, which sometimes create roadblocks. Most of our sectors are open. So it’s not a question of opening but streamlining.
Source:
http://Nayantara Rai, New Delhi, Mint
