Chidambaram for change of mindset to ensure more capital investment

Mumbai, Oct 17 (UNI) Union Finance Minister P Chidambaram has said that the country needed more private capital to eusure higher GDP growth rate.

Addressing a gathering after launching the inaugural issue of Harvard Business Review South Asia here yesterday, Mr Chidambaram said that we can become the fastest growing economy in the world if we are able to attract large quantity of private capital.

Today private capital has far exceeded the capital which was in the hands of MNCs, said the Finance Minister. Though we are highly credit worthy nation, we will have to change our way of thinking for attracting large quantity of private capital to the country, he said.

Undeterred by the high performance being shown by the capital market, he said,''let us not be mesmerised by the Nifty and the Sensex as they can not be the true indicators of Indian market.'' Giving full votes to the good corporate performance, the Finance Minister said that our focus should also be on things like agriculture, self-employment, low-end of service industry and unlisted companies. Thus in many ways we are developing our own model of business, he said.

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