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Letter to BS: Top Indian companies take guard to invest in new projects

The report about the BS Annual Banking Forum 2018 is sweet music to the the country in general and the industry in particular

Business Standard 

Clockwise from top: National Payments Corporation of India MD & CEO Dilip Asbe, Payments Council of India Chairman Naveen Surya, ICICI Bank Chief Technology & Digital Officer B Madhivanan, Infrasoft Technologies MD & CEO Rajesh Mirjankar, Bank of Bar

This refers to the front page report “India Inc takes guard to invest in new plants” by Dev Chatterjee and Abhijit Lele (December 10). The report about the is sweet music to the the country in general and the industry in particular. Confident assertions by so many top bankers — old, new, non-banking financial companies bosses et al — of the country, speak volumes about the state of “capacity utilisation pick up and rising demand for project finance”. All of them seem to be unanimous in reflecting that industry — including the vital small and medium-sized enterprises — performance is improving and there are happy signs of revival in starting new projects.

Your forum has obviously done a great job — bringing together so many bank and others associated with the common cause of nation building -— and your team working on this deserves applause. It is amazing and heart-warming to read the statements of this large pool of experts that mostly reflect good things happening across the board and the nation as a whole moving forward. Hopefully, the period of somnolence and inaction is getting over.

Salute to the present regime for having facilitated this great revival through their various interventions and policy changes.

Krishan Kalra Gurugram

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First Published: Tue, December 11 2018. 01:16 IST