Make India FDI friendly to bridge resource gap: S P Hinduja

Noted NRI industrialist S P Hinduja today said the government should make business environment more attractive for foreign investors and tap various sources like PSU divestment to bridge the huge resource gap for achieving 9 per cent growth.

He said the huge shortfall of resources for achieving 9 per cent growth can be bridged "only by making the business environment attractive for foreign and NRI investors and Public-Private-Partnership (PPP)".

Calling for the need to create investment friendly environment in the country, Hinduja said, "Projects should be made available to NRIs and other investors with all approvals and clearances so that no hurdles are created or delays occur in the course of implementation."

"The investment friendly environment can be created by making the sanction process for infrastructure projects more transparent, ensuring Centre-State co-ordination and simplifying procedures," he added.

He said enhancing FDI cap in areas like banking and insurance and divestment of stake in PSUs were other sources for raising funds.

Overall, he said Finance Minister Pranab Mukherjee has presented a confidence building Budget of hope and change, with focus on all inclusive growth.