The Associated Chambers of Commerce and Industry of India (Assocham) submitted a seven-point reform agenda to Prime Minister Manmohan Singh and Finance Minister P Chidambaram, urging them to hasten reforms in the changed coalition arrangements of the government.
Assocham urged the government to speed up reforms in the agriculture, labour, insurance, civil aviation and retail sectors, and pension funds, among others.
Assocham also demanded removal of Press Note 1 as far as foreign direct investment (FDI) policy was concerned. Assocham president Sajjan Jindal said: "This note is working as a stumbling block between the two joint venture partners (one domestic, the other one foreign) to expand their operations without necessary approval from domestic partners in the same technology area."
Meanwhile, the Federation of Indian Chambers of Commerce and Industry (Ficci) will also be meeting the prime minister and the finance minister with a draft of agendas that it seeks to promote with the government.
Amit Mitra, secretary general, Ficci said the government needs to pursue economic reforms with an aim to ensure sustainable growth. "The business confidence of the Indian industry has been miserable in the last three quarters,which needs to be improved with the efforts of the government.
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We will propose structural changes in the government's approach towards economic reforms," he said.