Global slow growth is India’s opportunity: Jaitley

Kolkata: The ongoing global slow growth is an opportunity for India as investors are eyeing the country’s market, Finance Minister Arun Jaitley said here Wednesday.

“Many parts of the world are slowing down today. And therefore, global investors are looking at us. It is this situation which we can convert into an opportunity, and this opportunity will enable India to grow,” Jaitley said during the two-day Bengal Global Business Summit here.

He said the manufacturing and infrastructure sector will drive the country’s growth.

“We need to substantially concentrate on the manufacturing sector. We need to give a massive boost in infrastructure, particularly public spending in infrastructure,” he said.

Jaitley, who is also the corporate affairs minister, said the manufacturing sector will help address the country’s under-employment issue.

“It is manufacturing which is going to create jobs. It is manufacturing in which people are going to shift from under-employment in the agriculture sector. And that is where one of the greatest challenges in the next few years is going to lie,” he said.