PM asks India Inc to chip in for affirmative action

New Delhi, May 26 (PTI) Indian Prime Minister Manmohan
Singh Wednesday asked the country's industry leaders,
including Ratan Tata and Mukesh Ambani, to reach out to the
rural economy and help the government on food security and
affirmative action.

The corporate honchos raised concerns about the possible
impact of the European financial crisis on the Indian economy.
Singh reviewed the state of economy with Tata, Ambani,
Azim Premji, Sunil Bharti Mittal, Swati Piramal, Chanda
Kocchar, Deepak Parekh, Kesab Mahindra and Kiran Majumdar Shaw
at the first meeting of the newly constituted Prime Minister's
Council on Trade and Industry.
The Prime Minister asked them to form sub-groups on food
security, public-private- partnership, backward area
development and corporate social responsibility.
"The members held wide-ranging discussions on various
issues, including use of clean technology for energy and
economic security, R&D to further industrial growth,
contribution of industries in food security and affirmative
action for social inclusion," a PMO statement said.
Singh was assisted by Finance Minister Pranab Mukherjee,
Commerce and Industry Minister Anand Sharma and C Rangarajan,
Chairman of the Economic Advisory Council to the Prime
Minister.
On the Euro crisis, Rangarajan, noted economist and
former RBI governor, assured the members that the problem was
small.
"Rangarajan said Greek problem is very small in terms of
its impact on Indian economy (but) we have to look after
whether Euro is falling or rising which is more important,"
Piramal who is also Assocham President told reporters.
Ruppee appreciation in the recent past and its impact on
India's exports also figured in the discussions.
She said both the Prime Minister and Finance Minister
assured the industry about quick implementation of Goods and
Services Tax and Direct Tax Code - the two of the most
important tax reforms to be launched in the country.
Some of the industry members also sought opening up of
the multi-brand retail and defence sectors to foreign
investment.
The members expressed confidence that the economy was
well on its way to trajectory of plus 9 per cent. PTI SCV
RBT