Expressing serious concern over substantial drop in investment in the country in the last decade, India's Chief Economic Advisor Krishnamurthy Subramanian has said investment is key to the country becoming a USD5-trillion economy in five years.
Subramanian told a Chicago audience last week that he has identified three engines to promote investment land reform (land acquisition laws need reform), labour reform (ease labour laws to encourage employment), and power (price it better to provide access to encourage a more balanced growth across the country).
During a conversation organized by Indian School of Business (ISB) Office of Alumni Engagement, in partnership with Kellogg Public Private Initiative, Subramanian was responding to a question, "How is India going to grow to 5 trillion USD in 5 years?"