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2011-07-15

Anand to address credit rates

Anand to address credit rates

Speaking at a meeting with a delegation of Federation of Indian Chambers of Commerce and Industry (FICCI) in New Delhi, Union Minister for Trade and Commerce, Anand Sharma said that he shares the industry’s concern on high cost of credit and is engaged with the Finance Ministry for remedial measures.

The talk was part of the minister’s engagement with the Industry on various related issues including FDI inflows, FDI Policy and decline in manufacturing output etc.

The trade minister called for collective national endeavour to restore investor confidence and  stressed that interventions should be made before perception of slowdown aggravates further. "Industry has raised concerns which we take on board. Time has come for Industry and Government to work together to change perception and also bring a turn around as far as industrial production is concerned", he said.  

He added that there is a need to "take steps and measures to see that India continues to remain an attractive destination for investment."

On National Manufacturing Policy he assured that CoS under the Principal Secretary to the Prime Minister is fine tuning the Policy that has been given in-principal approval by the high level committee chaired by the Prime Minister.

He added that the policy is inevitable now and states should be ready to benefit from it. In fact states like Rajasthan, Maharashtra and Gujarat are already gearing up to be benefitted by the proposed NMIZs, he added.

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