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PM Modi Asks Industry Leaders, How India Can Gain From China's Pain

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| September 8 , 2015 , 08:39 IST
narendra modi Prime Minister Narendra Modi met industry leaders on Tuesday to deliberate on the recent developments in the global economic scenario and opportunities it presents for India. According to news agency Reuters, PM Modi talked about the opportunities for Asia's third-largest economy in China's market and growth woes. The meeting was attended by tycoons including India's richest man, Mukesh Ambani, finance minister Arun Jaitley, central bank governor Raghuram Rajan, economists and state and private bank chiefs. It was Modi's second meeting with representatives of industry associations or chambers in two months, held amid global market turbulence caused by a slowing Chinese economy. It also comes as the US prepares to raise interest rates. ALSO READ: PM Modi Slams Those Trying To ‘Mislead’ Armed Forces On OROP Sources said the agenda for the meeting was 'Recent Global Events - Opportunities for India', but other issues plaguing the Indian industry also came up for discussion. Modi had in his first interaction with industry chambers on June 30 met business leaders to hear their grievances on issues ranging from high capital cost to ease of doing business to certainty on taxation matters. ALSO READ: PM Modi Has Fulfilled OROP Promise, Congress Played A Joke With Veterans: Amit Shah The heads of all three industry chambers including FICCI, CII and Assocham have been invited for the meet. Last time, the Prime Minister had separate meetings with the delegations of Confederation of Indian Industry and Federation of Indian Chambers of Commerce and Industry which raised issues like investments not picking up due to high cost of capital, poor credit growth and difficulties faced by small and medium enterprises in doing business.

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