The Government’s recent measures are a good beginning to improve the investment climate, ICICI Bank’s Managing Director and CEO Chanda Kochhar said here today.
”...some of the measures that have been announced by the government (of India) in the recent past is a good beginning to start improving the investment climate,” she said at a seminar on ‘The Role of Asia in a Changing World’ on the sidelines of IMF-World Bank meet here.
Kochhar said India requires a huge amount of investment in manufacturing and infrastructure sectors.
“As the consumption is growing, we really need to back it up with lots of supply, with manufacturing goods and through infrastructure. And that is something we haven’t done really enough and that is the area we really need to do much more,” she said.
The government has taken a host of reform initiatives since mid-September, like allowing FDI in multi-brand retail chain and relaxing foreign investment norms for aviation and broadcasting sector. Besides, the government has also allowed 49 per cent investment in insurance and pension sectors.
Kochhar further said that India also needs to harness its demographic potential.
She said more than 60 per cent of the world population in the age group of 16-24 years lives in Asia and it is huge advantage.