Prime Minister Narendra Modi has called a high-level meeting on Tuesday with top leaders of industry and various business chambers, as well as senior finance ministry officials, to discuss the upheaval in the global economic scenario after China downgraded its currency in the face of a slowdown, and how this could possibly have a positive fallout on India.
Mr Jaitley(Finance Minister) had said last month that the slowdown in the Chinese economy will in fact turn out to be an advantage for India, and the thought within the government is that this development could be the opportune moment for propelling its “Make In India” campaign, as for fulfilling the needs of its demand-based economic growth, more global entities could get attracted towards India.
The meeting, to be chaired by Mr Modi, will be attended by finance minister Arun Jaitley (who returned Monday after his visit to Turkey for a G-20 meeting) and his top bureaucrats, while corporate bigwigs such as Reliance Industries boss Mukesh Ambani, Tata Group chairman Cyrus Mistry, top bankers and economists will also be present, sources said.
RBI governor Raghuram Rajan, Niti Aayog vice-chairman Arvind Panagariya and economic affairs secretary Shaktikanta Das will be among those present at the meeting. Other significant invitees include Adani Group head Gautam Adani, ICICI Bank CEO Chanda Kochhar and SBI chairperson Arundhati Bhattacharya, as well as Mahindra Group CMD Anand Mahindra and Aditya Birla Group head Kumar Mangalam Birla, sources told media.
