The industry today welcomed Prime Minister Manmohan Singh's statement that called for speedy and decisive actions to achieve 8% economic growth.
"Growth has slowed to 5%, which is clearly disappointing ... We are seeing temporary downturn, partly due to global factors. We can get back to 8% growth rate," Singh said at the CII AGM, adding that government will take speedy and decisive action to push growth.
Welcoming the statement, Jindal Steel and Power Chairman Naveen Jindal said, "PM has addressed all areas of concern of industrialists for the economy and has also said that we shouldn't be pessimistic, we should be optimistic and if we do the right things, we can easily achieve higher growth rate.
"I think it will give the industry the confidence it needs to make investments," he added.
Reacting positively to the PM's statement, Chairman of Bajaj Group Rahul Bajaj said, "If the Prime Minister says certain things, you take it seriously. If you don't take that seriously, who would you take seriously? I think he has made a very positive statement.