Planning Commission deputy chairman Montek Singh Ahluwalia has hailed Indo-US defence deals and technology transfer agreements. He said the move would not only modernise many parts of Indian economy but would improve productivity, which in turn would create more jobs in the US as well as India.
“If we are getting the kind equipment we need … that is going to modernise many parts of our economy and produce jobs,” Ahluwalia said.
“These deals would help producing jobs at both place (India as well as in the US). These deals would improve productivity which result in creating more jobs,” he said.
Besides, he stressed for more private investment in the education sector particularly higher studies to meet the expanding demand of the country.
“With this kind of economic growth, the public resources would not be enough to meet the expanding demand for higher education in the country and private investment is needed”, he added.
Finance Minister Pranab Mukherjee has invited US investments in the infrastructure sector while at the same time admitting that the present facilities were insufficient to sustain high growth in the country.