Equitable finance can be a good option to
meet the funding requirements in the various areas of Indian economy, said Mr.
Gopal Jiwarajka, President, PHD Chamber of Commerce and Industry in a press
statement issued here today.
PHD Chamber of Commerce and industry is
organizing an International Seminar on interest free and equitable financing in
India – Road Ahead on Friday, October 6th 2017 at PHD House, New Delhi and
dignitaries from the national and international arena would be joining to
deliberate on the subject which is scheduled to start at 10 am.
According to our estimates, India needs USD 2
trillion to meet up the funding requirements in the next 10 years in the
various areas of economy including physical and social infrastructure, new
economic areas including smart cities, digital India, Make in India, affordable
housing and Swachh Bharat Abhiyan and agriculture sector including agriculture
infrastructure and supply chain, said Shri Jiwarajka.
Banking industry in the oil rich Gulf
countries is showing an average growth rate of 15%-20% annually and comprises
around 400 institutions with an asset under management in excess of USD 2
trillion, he said.
These sources could serve to mobilize money
from oil-rich Gulf countries that could easily be channelized through an
interest-free system to finance India’s funding requirements, said Mr. Gopal
Jiwarajka.
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