Prime Minister Narendra Modi on Tuesday met industry leaders from across the country to assess the economic situation of the country. Several issues concerning the Indian economy were discussed during the meeting that went on for over three hours.
Giving out details of the meeting, Union Finance Minister Arun Jaitley said that key global events were analysed and its impact was discussed during the meeting.
The Finance Minister further said that most members of India Inc "agreed that we are going through extreme volatility phase". "This situation will keep evolving, it will stabilise but other situations will keep cropping up," Jaitley added.
According to Jaitley, the Prime Minister laid thrust on low cost manufacturing and emphasis on job creating sectors. The participants of the meeting raised issues such as ease of doing business, cost of labour and capital and stalled projects.
"Steps to strengthen economy include stepping up investment in infrastructure, agriculture and public investment," said Jaitley.
The Finance Minister further said that the Prime Minister concluded by pointing out strength of our economy, like human resources, oil prices, size of domestic market, and "the fact that our economy is not entirely dependent on imports".
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