JSW Steel’s Managing Director- Seshagiri Rao recently interacted with media persons. He indirectly hit out at the UPA government’s economic policies. He also spoke about several issues related to the country’s economy.
While talking about his expectations from the new government, Seshagiri Rao suggested that India should stop exporting iron ore and make it available for Indian industries which are suffering due to unavailability of iron ore. He also said that availability of iron ore can help in increasing the steel production in India, and Indian companies won’t have to import steel from foreign countries at high prices.
On being asked about his opinion regarding slowdown in developing infracture projects, Seshagiri Rao shared his opinion that the nation can grow much faster if the state and central government creates the appropriate environment for new projects. He further said that Modi government has enough numbers in Lok Sabha and can improve the situation by issuing quick approvals for new projects and tax reforms. Seshagiri Rao also highlighted the importance of controlling raw material linkage.
During last part of the interaction, he pointed out that free flow of goods across India without barriers and GST implementation will boost the country’s GDP. The entire country and investors expect the new govt to take decisions, pass key legislations, and first few steps from government will definitely send positive signals to domestic and overseas investors.
By Nitten Gokhaley
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