New Delhi: India Inc has been making its mark on the worldmap with big-ticket foreign acquisition like the ones that the Tatas did on Corus and Hindalco’s acquisition of Novelis.
But Prime Minister Manmohan Singh is urging the captains of India Inc to concentrate on investing in their backyard as well.
“I urge them to pay equal attention to market opportunities at home. I want the Tatas and the Mittals and all others who are eyeing global opportunities to also invest more at home. India is a land of opportunity. Don't miss this moment” says Manmohan Singh, Prime Minister.
Corporates say that expansion by foreign acquisition is easier, given the difficulties in acquiring land at home.
Admitting there were 'issues' over the country's industrial policy in recent years, Prime Minister assured that all problems will be satisfactorily addressed and reminded India Inc of its social duties.
“In the industrialization of our country, creating an environment where industry can create lot more jobs than before, is a priority concern,” he said.
The PM wants companies to expand in India before heading abroad but corporate India India says, first give us the land!!
With inputs from moneycontrol.com
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