India urged its industry leaders to unleash animal spirits

India urged its industry leaders to unleash animal spirits

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India has urged its industry leaders to unleash the animal spirits and drive on the fresh investments in the country to contribute it being one of the fastest growing economies in the world.

Finance Minister Nirmala Sitaraman while addressing the key players at an All India Management Association (AIMA) event highlighted the government’s effort to facilitate investment following several supporting decisions like the reduction in the corporate tax.

She said, “I would like now, to see private investors and private industry in India coming forward with that, so called animal spirits to show that it is possible for India (to be) one of the fastest growing economies”. She also added, “We need capacities to be ramped up, we need expansion, we need more production of very many such products, which are so required for the economy”.

Indicating to the corporate tax reduction by 10 % point in September 2019, she said, “I have been waiting to see expansion happening, I’ve been waiting to see greater investments from private sector in India”.


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