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ShareNew Delhi: The following are excerpts from what was said by participants at the World Economic Forum meeting in India''s capital on Sunday.
Montek Singh Ahluwalia- Deputy chairman of India's planning commission
"The finance minister has said they want to bring the fiscal deficit down starting next year. Withdrawing stimulus means reducing the fiscal deficit. These are not two different things."
"I think we are on target for anything near 5 to 6 percent inflation. I would like it to be 5 percent rather 6 percent."
"But at the point when growth is distinctly below potential, the balance of the concern is essentially maintaining the growth rate."
"(Right) now, I don''t think we are in a position where the inflation issue is anything other than something we keep a close watch on."
"The real concern on the pricing front is that you have food price inflation somewhat high. But that reflects partly the bad monsoon. I expect by the end of this financial year food price inflation will come down."
Carlos Ghosn, CEO, Renault and Nissan on global auto sales
"It looks like we are here hitting a plateau."
"All plans of expansion and capacity can be resumed with a much more solid understanding of how this crisis will end up."
On the global economy
"I don't believe in a double-dip (recession)."
"For another dip, we have to move up. So far we haven''t seen the move up. So double-dip for me is an interesting discussion, but that's not real."
"So when do we move up?" "It''s very likely that we will start to move up in 2010 selectively with obviously China, India, Middle East, South America playing an important role. United States also."
"I am afraid Europe, Japan are still going to have a tough year in 2010."
Indra Nooyi, Chairman and chief executive, Pepsico
"The world was a wonderful place when the United States was the engine of growth and all of us should root for the United States to become an engine of growth again, because it was the world''s largest consuming country."
"Let''s hope the downturn in the United States is shortlived."
"The United States is one of the most resilient countries and the United States will figure out a way out of this downturn, so I think the world will recover."
Sunil Mittal, Chairman, Bharti Airtel
"The question is how long this (price war) is going to last."
"This is a business that needs huge investments, one has to commit billions of dollars."
"At the end of the day every economic model will require returns and if there are no returns, you will see consolidation ... World over consolidation has taken place. Wherever there have been more operators, they have been reduced. There is empirical evidence."
