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Mahindra says there is need for more public investments

Press Trust of India  |  Mumbai 

Mahindra group chairman Anand Mahindra today called for more public and also having more SEZs so as to accelerate economic growth as private investment is lagging.

"If private investment is lagging (which is the case now), public investment has to be stepped up," Mahindra told the Today conclave here.

Batting for a 'Shenzen model' of development, he said the country needs more SEZs on both the sides if it wants manufacturers to invest in capacity building.

Lauding the focus on manufacturing, he said the country has possibly now become the best manufacturing hub in the world and this is the proof that make in campaign is a success.

"Make in is a very good idea, and it is beginning to work. The world is going to come to us because there is political stability and business viability here now," he said, and pointed out that doing business has also become a lot more easier now.

Answering a question on whether he would invest in states like Bihar, he said, there is no rocket science in understanding why investors go where they go. "At the end of it, we want a leadership who delivers, and from that perspective now I am very comfortable in investing in Bihar," he said.

Mahindra urged the NITI Aayog to get a global advisory council on the lines of Singapore for better working to which its chief executive Amitabh Kant said he would look into the suggestion.

Highlighting the role of states in the national growth story, Kant said, "certain fundamental changes are taking place in the country now. There is huge focus on competitive federalism and not just limited to ease of doing business.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 17 2017. 19:28 IST