PM has set an investment target of R2 lakh cr for core projects in the current fiscal.

Close on the heels of Prime Minister Manmohan Singh asking the ministers handling infrastructure portfolios to expedite implementation of projects, finance minister Pranab Mukherjee has convened a meeting on June 25 with the captains of the industry to discuss structural bottlenecks in the key infrastructure sectors like coal, power, oil, mines, roads and ports.

Finance ministry sources said the meeting would be attended by the ministers concerned along with the secretaries in the ministries to hasten the decision-making process. This meeting is largely an interaction between industry leaders and ministries over structural bottlenecks affecting investments in the country. It is expected to be attended by 15 top industrialist, including Ratan Tata, Mukesh Ambani, Anand Mahindra, Anil Ambani and Sunil Bharti Mittal.

Finance ministry had last convened such meeting in August last year when industry heavyweights had pointed out regulatory issues damaging investor sentiments. The proposed meeting will follow up on the issues raised in the earlier meeting with the PM and would also review steps taken by various ministries to implement suggestions made by the industrialists, sources said.

The latest meeting is part of a major image-building exercise launched by the government with the twin intention of removing the policy paralysis tag and woo investors to the country to check the slowing economy.

Recently, Singh held a meeting with ministers handling infrastructure portfolios to give a big push to critical sectors such as railways, aviation, shipping, and coal and power.

As part of his agenda to fast-track infrastructure development and to achieve the 9% growth target, the PM has set an investment target of at least R2 lakh crore for core sector projects in the current fiscal.

Last week, the fiannce ministry also decided to undertake a roadshow in various markets in West Asia, Europe and America to woo investments for Indian markets and projects that promise attractive returns.

With economic growth slipping to 5.3% for the quarter ended March 2012, experts are blaming the all-time low GDP figure to high interest rates choking consumer demand and dampening investor sentiment, even as the paralysis in the government has held back big projects in the infrastructure sector.