Parth Jindal Calls for More Investment in India Amid Economic Divide

In a call for broader investment within India's economic landscape, Parth Jindal, the scion of the JSW Group, expressed the necessity for increased participation from private corporations, particularly MSMEs. At a press meet, Jindal announced JSW Group's ambitious $50 billion investment plan over the next five years, underlining the country's vast growth potential.

While industry magnates like Uday Kotak have raised concerns over concentrated corporate investments, Jindal highlights this as a crucial area for 'democratisation' of capital expenditure. Though Sajjan Jindal, JSW Group chairman, had earlier specified a $60 billion investment, group insiders now anticipate a $40 billion target. However, Jindal remains confident in a $50 billion projection.

Identifying the critical hurdles in land acquisition and labor regulations, Jindal suggests these as impediments to enhanced manufacturing growth. Despite strong fundamentals, the existing economic divide, with only a fraction of Indians driving consumption, remains a major concern. Jindal also flagged the intention to list either JSW One or JSW MG Motors in the near future.

(With inputs from agencies.)