ID :
25447
Sun, 10/19/2008 - 22:13
Auther :
Shortlink :
https://oananews.org//node/25447
The shortlink copeid
Hinduja plans investments in nuclear power plants
London, Oct 19 (PTI) Confident that India can withstand the current global economic downturn, the Hinduja group Sunday said that they were widening the scope of their investments in India to include nuclear power plants in collaboration with foreign partners.
The group Chairman S.P. Hinduja said here that the
economic strength of India or any other country should not not
be measured by the performance of stock markets.
"The Indian stock market is undergoing a correction
which would not not impact on the solid economic foundation of
the country. India's potentiality, the market size, investment
opportunities it offers and the talent and skill of its people
remain undiminished," he said in an interview.
"In fact, this is the time to avail of investment
opportunities in India. We are confident that Prime Minister
Manmohan Singh, the architect of free market economy, and
Finance Minister P. Chidambaram will continue the reform
process so that investors face no no hurdles," he said.
Besides continuing its investments worth several
billion dollars in 10 core sectors such as infrastructure,
power, finance and banking, health care and automotive
industry, the Hinduja group was now now looking at investing
in nuclear power plants against the backdrop of the Indo-U.S.
nuclear deal.
The group was in discussion with potential partners in
nuclear energy, Hinduja said but declined to give further
details.
The Hindujas see business opportunities worth at least
one trillion dollars in infrastructure in semi-urban areas,
Hinduja said.
Speaking of the size of the Indian market, Hinduja said
with a population exceeding 1.2 billion India could be the
leader of the world's consumer market if it develops 400 to
500 million consumers.
While hailing the liberalisation process in India, he
said that the government needs to open the market another 35
to 40 percent. That could enable it to overtake the world
leader, the U.S.A., which has a market of 240 million
customers.
Hinduja had little doubt that the Indian economy could
withstand the current global problems because it had the
potential of consuming four times what it produced and
developed. The size of the middle class and the upper middle
class with high networth was increasing.
"There was no no need for anyone in India to panic
about the current situation. The paper value may have dropped
but the demand and the potentiality of India continues to be
solid," he said.
Looking at the global financial meltdown, Hinduja said
that there were also positives in the current situation. For
instance, misuse of money will be curtailed by cash crunch,
there would be a drop in inflation and discipline in spending.
PTI
The group Chairman S.P. Hinduja said here that the
economic strength of India or any other country should not not
be measured by the performance of stock markets.
"The Indian stock market is undergoing a correction
which would not not impact on the solid economic foundation of
the country. India's potentiality, the market size, investment
opportunities it offers and the talent and skill of its people
remain undiminished," he said in an interview.
"In fact, this is the time to avail of investment
opportunities in India. We are confident that Prime Minister
Manmohan Singh, the architect of free market economy, and
Finance Minister P. Chidambaram will continue the reform
process so that investors face no no hurdles," he said.
Besides continuing its investments worth several
billion dollars in 10 core sectors such as infrastructure,
power, finance and banking, health care and automotive
industry, the Hinduja group was now now looking at investing
in nuclear power plants against the backdrop of the Indo-U.S.
nuclear deal.
The group was in discussion with potential partners in
nuclear energy, Hinduja said but declined to give further
details.
The Hindujas see business opportunities worth at least
one trillion dollars in infrastructure in semi-urban areas,
Hinduja said.
Speaking of the size of the Indian market, Hinduja said
with a population exceeding 1.2 billion India could be the
leader of the world's consumer market if it develops 400 to
500 million consumers.
While hailing the liberalisation process in India, he
said that the government needs to open the market another 35
to 40 percent. That could enable it to overtake the world
leader, the U.S.A., which has a market of 240 million
customers.
Hinduja had little doubt that the Indian economy could
withstand the current global problems because it had the
potential of consuming four times what it produced and
developed. The size of the middle class and the upper middle
class with high networth was increasing.
"There was no no need for anyone in India to panic
about the current situation. The paper value may have dropped
but the demand and the potentiality of India continues to be
solid," he said.
Looking at the global financial meltdown, Hinduja said
that there were also positives in the current situation. For
instance, misuse of money will be curtailed by cash crunch,
there would be a drop in inflation and discipline in spending.
PTI
