 Online edition of India's National Newspaper Wednesday, Nov 05, 2008 ePaper | Mobile/PDA Version |
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Tamil Nadu
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Chennai
WARM WELCOME: Sajjan Jindal, Assocham president, being greeted by Chozha Naachiar Rajasekar, president, the Tamil Chamber of Commerce, at a function held in Chennai on Tuesday. CHENNAI: The present global depression or deflation is not India centric and the nation has to convert the crisis into opportunity, Assocham president Sajjan Jindal said on Tuesday. Addressing members of the Consultative Committee of City Chambers of Commerce here, he said expansion of large projects had slowed down and people started conserving resources as they did not know what had hit them. The Centre should start investing in infrastructure on a large scale to accelerate growth. “Just as the situation changed from bad to worse, the revival will happen suddenly. We have been suggesting ways and means of increasing the country’s foreign exchange resources by increasing interest rates on NRI deposits, among other things. It is also a great chance for us to revive the small and medium enterprises and tiny industries by increasing the excise limit to Rs.5 crore and Rs.1.5 crore respectively,” he said. He appreciated the members of the Consultative Committee of City Chambers of Commerce for working towards a common goal. The Assocham was ready to help them take up issues with the Prime Minister, the Finance Minister or the officials concerned to get them resolved at the earliest. Referring to the problems faced by entrepreneurs in acquiring land, Mr. Jindal said: “People are nice. You should have direct dialogue with them. We succeeded in acquiring 5,000 acres and 17,000 acres in West Bengal and Rajasthan by making them partners in our projects.”
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