"I think we have some issues to deal with. Clearly, there is slowing down of investment in the economy specially in the private sector and I think to kickstart that investment by the government, infrastructure is something that becomes critical," Birla said while speaking at the ET Global Business Summit here.

On other issues which India faces at the moment, Birla said: "You have issues about ease of doing business where you need ample co-operation between states and the Centre. States are where the real action happens and we cannot have, in a federal structure like ours, where state is not in sync with the centre."

Commenting on taxation, Birla said issues around it takes away the purpose of doing business.

He, however, said the advantages India have at this point in time far outweigh the problems.

Expressing similar views, Bharti Group Chairman Sunil Mittal said India Inc was hopeful that the much-awaited GST would be passed in the coming Budget session.

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