Godrej: Industry Investment Driven by Demand

Mumbai, Nov 26 (PTI) Industrialist Jamshyd Godrej on Wednesday said the industry will invest only if it sees demand, and pressed for measures to create the demand in the economy.

Godrej said enterprises also require several measures on the ease of doing business front.

The comments come at a time when there are widespread concerns about the sluggish private capital expenditure, which can kick off a virtuous cycle of growth in the economy.

"Whether it is private or public investment, all of it is driven by demand. If the demand is there, everyone will invest. The important thing to do is to create demand," Godrej told reporters on the sidelines of a CII event here.

He also sought more reform measures like the GST rationalisation done recently, and initiatives on the ease of doing business.

When asked about the impact of the labour code on small enterprises, Godrej said the micro, small land medium enterprises sector is overburdened with regulation and we need to lighten the burden.

Speaking at the event, Maharahstra's Secretary for Industries P Anbalagan said the state's new manufacturing policy aims to unlock USD 850 billion in investments in the manufacturing and services sectors.