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PTI panaji Last Updated at 07-12-2018 14:16:34 IST India

Commerce minister Suresh Prabhu

Friday was optimistic on the India growth story saying, "the

worst is over and best is yet to come."

The minister was addressing the Global Venture Capital

Summit in Goa, attended by over 100 investors from across the

globe keen on start-ups.

"There is no market, which is exciting as India...This

is a new phase in Indias growth story," Prabhu said inviting

investors to participate in this.

The minister said phenomenal growth will take place in

every sector. Noting the drive of infrastructure creation in

the country under the Narendra Modi-led government, Prabhu

said this is a dire need for such a large country.

"The government has to invest more than 10 per cent on

infrastructure year after year. That is because we failed to

do it in the past," he said indirectly blaming the former

Congress-led governments at the Centre.

Prabhu, who was also railway minister, said on that

front,the entire investment was running into hundreds of

billions of dollars.

"We created, for the first time, a five-year plan of

USD 144 billion investments. There was phenomenal change in

the infrastructure after that," he claimed.

Prabhu, who also holds the portfolio of civil

aviation minister said, "In the aviation sector, we have

created 100 airports and we will add 100 more in the next ten

years time with the investment of USD 65 billion. The story is

similar in roads," he pointed out.

Prabhu said that when he held the responsibility as

power minister, the country was facing a deficit and questions

were asked on how India will become powerful without power.

"We made one law that brought in USD 250 billion in

investments in a matter of a decade. Today, India from being

power deficient, is a power surplus country," he boasted.

Making a case to back entrepreneurship he pointed out

while in other markets there is a 2-3 per cent growth for

start-ups, India clocks double digit growth, and the

possibilities are "unimaginable".

The minister especially pointed to opportunities in

agricultural start-ups because almost all the land used for

agriculture is privately owned. There are small holdings.

Therefore we have opportunity to increase the farm yield, he

suggested.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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