Speaking at the valedictory of the platinum jubilee celebration of Kanara Chamber of Commerce and Industry (KCCI) in Mangaluru on May 16, Suresh Prabhu said that economy can grow when entrepreneurship grows. Without entrepreneurship, the growth of Indian economy was not possible and will not be possible.

Stating that the country has realised the importance of entrepreneurship, he said the thrust of the government is to make sure that entrepreneurship grows.

Highlighting the role of infrastructure development in the growth story, Prabhu said the Railways has been investing heavily in infrastructure projects such as track development, hi-speed rail line, and dedicated freight corridor.

Two of the major international companies have been given the task of making electric and diesel locomotives for the Railways. Entrepreneurs play a significant role in these developments as these companies will be making the locomotives in India.

They need SMEs (Small and Medium Entrepreneurs) to supply components to them. This will help many to become self-employed contributing for the development of the country, he said.

Stating that the Railways will form a joint venture company with the Karnataka government in three months, he said this will help develop many of the rail infrastructure development projects in the state.

Many of the infrastructure deficiencies that exist today will be wiped out in next few years, and the country will be able to catch up with rest of the world in terms of development, he said.

Stressing the need for exploring the potential of west coast of the country, he said organisations such as KCCI can come forward and work with the Railways to explore this potential.

Nalin Kumar Kateel, Member of Parliament from Dakshina Kannada, Ramanath Rai, Minister in charge of Dakshina Kannada district, and JR Lobo, Member of Legislative Assembly (Mangaluru South), spoke on the occasion.

Source: Business Line