The Hindu : Post war: Indian industry can play useful role

Online edition of India's National Newspaper
Friday, Apr 11, 2003

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Post war: Indian industry can play useful role

By Our Special Correspondent

NEW DELHI APRIL 10 . The Confederation of Indian Industry chief, Ashok Soota, today said it should be possible to achieve a growth rate of 6 per cent plus now that the Iraq war was virtually over and the conflict turned out to be short-lived as anticipated.

Exuding optimism, Mr. Soota, while addressing his last press conference before his term comes to an end, said, "We feel relieved that war is over sooner than expected.'' It would have little impact as had been indicated earlier that a short conflict was not going to have much affect on the economy.

The country should initiate steps to be able to play its role in reconstruction work in Iraq in the post war scenario besides extending humanitarian aid at the Government level.

There were certain areas where the Indian private sector too could step in and make use of opportunities available there. India and Indian companies could work with US agencies at the time of reconstruction of Iraq.

Justifying his optimism, he said the short conflict would now produce a limited impact and the element of uncertainty was over.

The Export Import policy has turned out to be path breaking with renewed thrust on the services sector. Focus would have to on implementation and acceleration of the economy to drive maximum mileage.

In the IT sector, he talked about the VISA problems. There was no need to over react and the professionals need to be made more aware about rules and regulations.

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