The India Economic Summit Tuesday asked government to accelerate reforms in the infrastructure sector for attaining seven per cent growth while asking industry to become competitive and benchmark itself against global standards. "Growth is no longer a luxury, it is imperative. The September 11 terrorists attack have dampened sentiments, but not too much. What we need is a stepped up reforms process and quick privatisation," former CII president Rahul Bajaj said while wrapping up the 3-day summit.
Echoing Bajaj's sentiments, Infosys chief N R Narayana Murthy said Indian industry needed to shed its fears of globalisation and become more competitive.
"The Indian industry needs to benchmark itself against global standards, needs to export some part of its sales for a share in world trade and raise levels of corporate governance. This is the only way to grow in times of recession," he said.
He also emphasised the prominent role agriculture must play in society and that there should be greater market access for Indian agricultural products.
Among the recommendations of the summit is increased integration with the world economy and better regional partnerships, specially with countries like China, Singapore, and Central Asian nations. Bureau Report