India & China open up opportunities for global funds deployment
23 Jan '08
2 min read
Mr Kamal Nath, Minister of Commerce and Industry reaffirmed that inclusive growth would be important for india to continue on the growth path.
Speaking at the breakfast session organised by CII and IBEF at the World Economic Forum, Mr Nath speaking to select group of International CEO s, mentioned that infrastructure development was critical for this inclusive growth and with india`s demographic advantage of a very young population, the aspirational expectations of the youth and making them employable was a major human skills development exercise.
Mr Nath also mentioned that agricultural productivity and using the benefits of research in agriculture was important for india and also that india was not diverting agricultural land to bio fuels but focusing on bio fuels growing on non-agriculture land.
Responding to queries raised by the CEO s, Mr Nath said that the indian economy was domestic growth and demand driven and, thus, largely insulated from international financial developments.
He aslo said that the world trade negotiations were at a final phase and it was no longer a North-South issue since all sides were now engaged.
Referring to the developments in financial circles, Mr Nath added that there were two additional drivers in the global economy - India and China, which opened up new opportunities for global funds deployment
The Minister focused on the need for infrastructure development and detailed the several initiatives like the Delhi-Mumbai Industrial Corrider, a dollar 90 billion project.
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