PM Modi (centre) along with the business leaders during the meeting.

NEW DELHI: Prime Minister Narendra Modi on Monday held an extensive interaction with the leading business stalwarts and discussed ways to improve economic growth and job creation.

Some of the top business leaders part of the meet were Tata Sons chairman emeritus Ratan Tata, Reliance Industries chairman Mukesh Ambani, Mahindra group chairman Anand Mahindra, Adani Group chairman Gautam Adani, Bharti Enterprises chairman Sunil Mittal, Vedanta chairman Anil Agarwal, Tata group chairman N Chandrasekaran, TVS chairman Venu Srinivasan, L&T chairman AM Naik, along with others.

Sliding quarter after quarter, the GDP (gross domestic product) plummeted over six year low to 4.5 per cent in July-September quarter of the current fiscal. Moreover, most macro indicators continue to be in red or showing only marginal uptick.

This has largely been attributed to the slowdown in investment that has now broadened into consumption, driven by financial stress among rural households and weak job creation.

The Reserve Bank of India (RBI) last month cut GDP growth forecast for the current fiscal to 5 per cent. Most research and rating firms have revised their projections downward.

Seeking to push the sagging economy, the government has lined up infrastructure projects worth Rs 102 lakh crore across 18 states and Union Territories (UTs) with the bulk of the projects in the sectors of railways, urban development, health, water and education.

(With agency inputs)

