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Assocham, Ficci call for revival of investment cycle

NEW DELHI: Lifting curbs on FDI is good, but not enough to revive the investor sentiment, said heads of two industry associations who have called for compulsive decision-making to replace the policy inertia in government and more certainty in the investment environment across sectors to attract fresh money. 

YES Bank managing director and CEO
Rana Kapoor, who took over as the president of industry chamber Assocham, stressed upon the need for a red carpet treatment for local investors to revive the investment cycle. 

"We need at least a red carpet for Indian companies in our own country. That's the least we should do," Kapoor told ET in an exclusive interview after taking charge at the industry chamber last week. "We need to get out of this state of inertia and get into compulsive decision-making." 

Calling for a political consensus on the big-ticket policy priorities to revive India's growth, Kapoor said the country's experience suggested "98% energy" must be focused on execution strategies. 

"We need commando teams in ministries at the Centre and states to look at problems across sectors, set up regulators, benchmark and indigenise best global practices," he said.

He also added that sectors like mining, metals and natural resources need optimal pricing and allocation policies.