Chacko lauds PM, says NDA Govt. looking for investment is a good step

Lauding Prime Minister Narendra Modi's take on Foreign Direct Investment (FDI), Congress leader P.C. Chacko on Monday said it is a good step that the NDA Government is looking for investment.

"Prime Minister's optimism is very good. We always welcome FDI. When we were in government, they were opposing it directly and indirectly. Now, good sense has prevailed on them, and it is good that they are looking for investment," Chacko told ANI here.

"We need investment and we are welcoming any investment from outside. I wish the Prime Minister's expectation is fulfilled," he added.

During a business luncheon programme organised by Japanese Chamber of Commerce and Industry Nippon B Keidanren in Tokyo earlier in the day, Prime Minister Narendra Modi said,"We have taken a bold step by allowing 100 percent FDI in railways; we have raised the FDI limit to 49 percent in defence; we have talked about 100 percent FDI in infrastructure. For this, whatever changes of laws are needed, we are doing it and the results will be seen," he added.