At a seminar organised by the Associated Chamber of Commerce and Industry (Assocham) here on Saturday, he said political parties and industry must focus their attention on reforms in the core sector to attract large scale investments.

Singh said the economy was still growing at 5.5 per cent to six per cent, and although this was not at an optimal rate, the Indian economy was not in a "mess" as was being projected.

He suggested that industry should have dialogues with labour unions to generate favourable response to reforms and restructuring of public enterprises.

According to Assocham president, L Lakshman, the need of the hour was a second wave of reforms for reviving demand and business confidence.