Economy to top PM’s meet with business

Jul 29 2013, 10:51 IST
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SummaryThe meeting will primarily focus on high cad, weak rupee, manufacturing sector and skill development

Prime Minister Manmohan Singh will discuss the current economic problems and ways to tackle them with the industry chiefs on Monday. The high-profile meeting with the members of India Inc will primarily focus on four issues — high current account deficit, weakening rupee, how to boost to the manufacturing sector and skill development.

Those attending the meet include Bajaj Auto chairman Rahul Bajaj, TVS Group chairman and managing director Venu Srinivasan, joint managing director of Hero MotoCorp Sunil Kant Munjal, executive chairman of Infosys NR Narayanamurthy, managing director and CEO of ICICI Bank Chanda Kochar, HDFC chairman Deepak Parekh, Godrej Group’s Jamshed Godrej and chairman of Bharti Group Sunil Bharti Mittal.

The presidents of the three industry chamber CII, Ficci and Assocham S Gopalakrishnan, Naina Lal Kidwai and Rana Kapoor, will also be present at the meeting, which will take place in the evening at the the PM’s residence.

“We will talk about all the major concerns besides negative sentiment which is haunting the industry. We will suggest steps to deal with CAD and rupee depreciation,” said an industrialist who will attend the meeting.

The meeting comes in the wake of falling industrial output and liquidity tightening measures undertaken by RBI to arrest the fall in rupee. High current account deficit, which is also a major concern will also come up for discussion. CAD was 4.8% in the last fiscal and the government wants to bring it down to 4.2% in the current financial year. PTI

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