Railway Minister Suresh Prabhu today said that the development of any developing nation will accelerate the global economy and there are two imperatives to be incorporated with investment, infrastructure and intellectual capital for sustainable economic development.

One is the natural capital of the economy and second the human capital, Prabhu said and opined that industrialisation should not deplete the natural resources of a nation.

Similarly the development of human capital would enhance intellectual capital and importance should be given to education, Prabhu said, while inaugurating the seventh International Conference on Development Policy Leveraging Investment, Infrastructure Capital for Economic development at Avinashilingam University for Women here, through videoconferencing.

Congratulating the organizers for selecting the topic at the right time when the nation was undergoing positive changes through reforms by Prime Minister Narendra Modi such as ‘Digital India, Make in India and Swachh Bharat’, Prabhu said the concept of development should be rightly conceived.

The two-day conference was organised by the University in collaboration with The Institute of Finance Management, Tanzania and The Madras Chamber of Commerce and Industry.

Tadeo A. Satta, Rector of the Institute of Finance Management (IFM), Tanzania spoke about economic policies, reforms and development happening in Tanzania and related the close observation of economic reforms of India to that of Tanzania.