PM to meet India Inc today amid global turmoil: 10 Developments


By NewsGram Staff Writer

In a bid to deliberate on recent developments in the global economic scenario and the opportunities it presents narendramodi_505_051614085156before India, Prime Minister Narendra Modi will meet about 40 pioneers in the industry and leading economists on Tuesday.

10 points of note:

1) PM’s second meeting with India Inc in two months. The timing is right as the markets around the globe are turbulent due to a slowing Chinese economy.

2) The meeting is appropriate as the US prepares to raise interest rates.

3) The point for the meet is ‘Recent Global Events -Opportunities for India’, but a worried India Inc is also expected to bring up its issues about the slow pace of reforms.

4) Out of all the other issues expected to be projected by the industry leaders are investment bottlenecks, poor credit growth and ease of doing business.

5) Pleading anonymity, the sources said the effect of political developments on reforms like the government having to drop the changes it planned to the law to ease land acquisition and its inability to get the Goods and Services Tax Bill through Parliament is also expected to come up.

6) The meeting will be initiated with an address by Finance Minister Arun Jaitley.

7) Chief Economic Advisor Arvind Subramanian will make a presentation.

8) The heads of all three industry chambers – FICCI (Federation of Indian Chambers of Commerce and Industry), CII  FICCI_1(Confederation of Indian Industry) and ASSOCHAM are among those invited for the meet. Representatives from Federation of Indian Export Organizations (FIEO) will also attend the meeting.

9) The PM last met business leaders on June 30 to hear their grievances on issues ranging from high capital cost to ease of doing business and taxation matters.

10) Today’s meeting will be held at the PM’s Race Course Road residence from 10.30 am. It is expected to last a little over two hours.