President Pranab Mukherjee on Saturday praised the government for bringing in more foreign investment to the country. Mukherjee, as Union finance minister, was instrumental in regulating foreign direct investment (FDI) in India.
“A sustained average growth rate between 8 and 9 per cent is required to address the issue of poverty alleviation in the country,” said the President, who was the chief guest at the 86th Annual General Meeting of the Indian Chamber of Commerce (ICC), in Kolkata. He added that to meet that target, the gap between domestic savings and domestic investment would have to be bridged.
“In order to meet the investment requirements, the role of investment surplus countries comes into play. I am glad that the government is fully aware of this and has taken appropriate steps in that regard,” Mukherjee said.
Published 02 August 2014, 19:37 IST