Delivering the valedictory address at the National Institute of Bank Management in Pune, Jalan said: "It is difficult to think of gaining a long term competitive strength without substantial improvement in the power, transport and communication situation.

There is a large gap between the demand and supply of infrastructure and compared to some of the developing nations, our infrastructure is very important... increasing public investment in infrastructure and involving private sector in infrastructure development, is a key task for the future".

Electric power generation per 100 persons was 9.2 million kilowatts India in 1992 compared to the 165.4 million kw in Japan, 154 million kw in Hong Kong, 61.7 million kw in Korea, and 22.1 million kw in Thailand. "Reducing this infrastructure disparity is a task,which needs to be addressed through public and private investment", Jalan said. He was of the view that challenges on the policy front assumed a great deal of importance in a more open world economy. While observing that the role of government comes into focus as a confidence builder, a catalytic agent and a mediating agent, he identified three majors areas significant in this contextgearing off macro economic policies towards reducing uncertainty and risk to investors; increasing investment in the physical infrastructure; building social infrastructure.