Need to inculcate investment culture to boost economy

The domestic market, savings and investment culture should be improved to boost the Indian economy, observed Journalism Professor and Editor of The Hans India Prof. K Nageshwar. “There is a great potential for the domestic market and the production should be improved as per the domestic demand. It will help reach 8 per cent GDP growth as expected by the government,” he said.

Delivering the keynote address at a seminar on ‘Indian Economic Scenario - Opportunities and Challenges’ at Montessori Mahila Kalasala on Wednesday, the Professor said, “If investments are increased in the domestic market, it will help gain more income and provide more employment opportunities.” He expressed concern over continuing structural weaknesses in the Indian domestic market.

Citing Chief Minister N Chandrababu Naidu’s China visit to invite investments in the industrial sector, he said that the average age of an Indian would be 29 years by 2020, against 37 years in the US and 48 years in Japan. “While other countries have investment power and India has young manpower,” he said.Prof K Nageswar stressed the need for domestic saving culture, which has been coming down in the recent years.

Krishna University Vice-Chancellor Dr V Venkaiah stressed on the need for improvement of life skills among the younger generation to increase the economy of the country. He said the Indian share in world trade is coming down and exhorted students to develop a passion towards continuous learning and life skills.University of Madras management faculty Dr DV Suresh Kumar, Montessori Mahila Kalasala correspondent V Koteswaramma, business administration HoD Prof. P Venkateswara Rao and others were present.