Finance minister Arun Jaitley said India would continue on the current path of growth for a couple of decades more, bringing benefits of liberalisation to its people and eliminating the curse of poverty. Urging Australian supperannuation funds industry leaders to invest in India, he emphasised that the growth path the country is moving on, it will stay on it. “It's only then that India can eliminate the curse of poverty,” Jaitley said.
“We do believe that 7.5 per cent rate can be improved upon... And government is concentrating on several areas, specifically rural India. People in India are benefiting from the whole process of liberalisation.” Speaking at a round-table meeting with top leaders of the superannuation fund sector, Jaitley spoke to leaders including Australian minister for small businesses and assistant treasurer Kelly O-Dwyer, chairman of Future Fund Peter Costello and Indian high commissioner Navdeep Suri. Also present was a high-powered Indian delegation led by FICCI.
FICCI president Harshavardhan Neotia said India has made considerable progress over the last year, reflected in improvement in key macroeconomic indicators like GDP growth, inflation, fiscal deficit, current account deficit as well foreign investment inflows. Adding, there is an element of positivity and optimism about India, which is shared not just by domestic industry but also globally. He also said superannuation funds have ready to invest funds and we from Indian industry are here to invest projects.
