Kamath calls for policies to rev up growth

And if that doesnt happen,you hold back your investments.

Infosys chairman KV Kamath on Saturday called for long-term policies to revive sagging growth and blamed lack of policy clarity,coupled with high interest rates as the key reason for the current economic mess.

Kamath,who is also the chairman of ICICI Bank,said delayed policy measures,slowdown in industrial production,high interest rates and liquidity concerns have moderated growth prospects in the domestic economy.

High interest rate is a very big challenge we have got. As far as the investment engine is concerned,interest rate is not the only issue. Land clearances,environmental policies are not clear. And if that doesnt happen,you hold back your investments. There has to be clarity on all these matters or there has to be confidence within the industry that they will be handled properly (by the government), Kamath told a University of Michigan-organised India business conference here.

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Mahindra group chairman Keshub Mahindra,Infosys founder NR Narayana Murthy and Wipro head Azim Premji had also criticised the Centre for procrastinating on economic policy measures in the recent past.

Earlier this week,Mahindra urged the government to take steps to clarify the uncertainties… and bring back focus on providing a platform for growth,which is critical for bettering the quality of the lives of people.