MUMBAI, May 13: The Confederation of Indian Industry (CII) has urged the government to set up regulatory authorities for various infrastructure sectors.

N Kumar, the newly elected president of CII, said here today that only the telecom sector has got a telecom regulatry authority so far.

The new CII president has called for urgent setting up of regulatory authorities for other infrastructure projects in power, roads, ports and water transport sectors. He also called for a co-ordination group for different regulatory authorities to evolve norms and standards which are transparent and consistent.

The CII, he said, is keen on inviting foreign investment in all sectors including consumer goods sector as this generates competitiveness. ``What we are going through in the consumer goods sector is a learning process of growing competition. In the short run there may be some negative impact, but in the long run, it will help Indian industry,'' he said about the growing competition to Indian companies from abroad .

Kumar, who is also the vice-chairman of South-based Sanmar group said, that the federation has not discussed whether cent-per-cent foreign equity in all sectors would be a right move. About the impact of reduction in import tariffs, he said the Indian industry is learning to be competitive.

Presenting the continuing national agenda 1997-98, he said benchmarking, technology and brand building are some vital areas where CII has decided to take initiatives to make Indian industry globally competitive. ``As Indian industry is integrating into the global economy and looking for technology internationally, there is a need to strengthen our systems and our disclosure standards to meet competitive pressures,'' he said.

``The public sector units need greater autonomy, especially the ones which are making profits. Reform and restructuring of the sector, including the disinvestment process is a step in the right direction,'' Kumar said.

He said the country has a lot of potential for exports and there are several markets abroad such as ASEAN region, Indian Ocean Rim region, which India can use for its export promotion. Europe, USA and Japan alone account for Indian exports worth US $ 20 billion per year.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.