India has great opportunity to grow under PM Modi: Hinduja

Mumbai: Noted industrialist Ashok P Hinduja Thursday said India has great opportunity to grow under the leadership of Prime Minister Narendra Modi and expressed the hope Parliament will soon start giving nod to various policy-related measures proposed by the government.

"India has great opportunity (to grow) under the leadership of our Prime Minister Narendra Modi. Initially, the economic growth will be slow but it will pick up later on," he told PTI when asked about his expectations from Narendra Modi government.

He was speaking on the sidelines of a function organised by Hinduja Foundation Antiquity Collection to unveil its collection of 'Ancient Coins of India'.

The future economic growth will depend on four factors - cheaper money, infrastructure, land and labour laws, said the Chairman of Hinduja Group of Companies in India.

"I'm sure the Prime Minister and the government were looking into all these issues some of which require parliamentary support too, he added.

"We need clearances for various policies from Parliament. I am hopeful it will start happening within a couple of months from now.

"Any foreign investor who comes in, will see these things before planning to invest in the country. Wherever the PM visits abroad, he gets support from investors there," the billionaire-businessman said.

"We (the Group) have huge investment plans (for India) but they are awaiting various clearances," Hinduja said.

Starting its business journey in the early decades of last century, today the Hinduja Group has become one of the largest diversified corporate entities in the world spanning all the continents.

The Group, which is present in sectors like banking and finance, transport, energy (oil and power) technology, media and telecom, employs over 70,000 people and has offices in many key cities of the world and all major cities in India.