Ravi Shankar Prasad: Restoring investor confidence, jobs key tasks

Written by ENS Economic Bureau | New Delhi | Updated: May 28 2014, 14:06pm hrs
RaviRavi Shankar Prasad: Govt?s emphasis will be on growth of electronic manufacturing in the country. Express photo: Prem Nath Pandey
Restoring investor confidence in the countrys telecom sector and job creation in electronics manufacturing are the two key priorities of the new Communications and IT minister Ravi Shankar Prasad, who took charge on Tuesday.

We will create an enabling atmosphere that will lead to improvement in investor sentiment. The decision-making shall be fair, based on the twin objective of growth and consumer satisfaction. The telecom department has been in the news for many wrong reasons and the first priority would be to set things right, said Prasad, who has also been given the charge of law and justice portfolio. He added that improving mobile access in areas like North East, extremism-infested areas, Andaman and Nicobar islands and other rural areas will also be in his focus areas.

Prasad, later in the day, said that his governments emphasis will be on growth of electronic manufacturing in the country. There is a lot of potential in electronics manufacturing in the country. The focus of our government will be on electronic manufacturing, as this will create a lot of jobs in the country, he said after meeting the officials of electronics and information technology department. Prasad also said that the focus would be on creating a broadband highway and that he has directed the department to work on more details of this project.

Aware of the problems the telecom industry has faced in the past, Prasad said there has been a steady loss of investor confidence.

We need to restore that. In the telecom industry, 100 per cent Foreign Direct Investment (FDI) is allowed. Therefore, the 100 per cent FDI must be quickened, must be helped to come to India under a transparent regime which is assured ... this shall be my endeavour, he said.

After taking charge today, Prasad took presentations from officers in the telecom ministry and electronics and information technology department.