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Jun 19, 2013, 08.07 PM IST | Source: CNBC-TV18

Big mistake if foreign investors ignore India: Montek

Deputy chairman of the Planning Comisssion Montek Singh Ahluwalia feels that the government should move expeditiously to bring about the relaxations mentioned in the Arvind Mayaram report.

We need to keep looking at what is possible and try and support the whole process of building up the infrastructure momentum.

Montek Singh Ahluwalia

Deputy Chairman

Planning Commission

Deputy chairman of the Planning Comisssion Montek Singh Ahluwalia feels that the government should move expeditiously to bring about the relaxations mentioned in the Arvind Mayaram report .

Talking to CNBC-TV18, he says he has no doubt that international investors will keep investing in India given all proposals that are on table get implemented. 

Below is the edited transcript of his interview with CNBC-TV18

Q: What is your view on the Arvind Mayaram report?

A: I do think that in many of these areas we have had under consideration and we should move expeditiously to bring about the relaxations spoken about.

Q: There are also many issues related to coal, power, and the road sector, for example. Do you think that decisions on such issues need to be taken in the coming weeks or months?

A: Some of them I expect in the coming days. Particularly in the matter of fuel supply we are now ready for decision. We just have to schedule a time and I hope that those decisions will come very quickly.

Q: On infrastructure several measures need to be taken. Obviously that will generate some kind of a demand internally. Do you believe whatever the government has been doing in the past few months is enough or more needs to be done as far as infrastructure sector is concerned?

A: Quite a lot has been worked on, not all of it is yet been implemented. So, the first thing we should do is to implement the things that we are working on, I think that can be done quite quickly. One can never say that we have done everything that we need to do. We need to keep looking at what is possible and try and support the whole process of building up the infrastructure momentum.

Q: So, do you believe that international investors will keep investing in India given all these proposals that are at the table at the moment now if they get implemented?

A: I have no doubt about it. You should not judge from what happens in one day or one week but looking ahead I have absolutely no doubt that foreign investors who want a piece of the action in a fast growing emerging market would be making a huge mistake if they ignore India.

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