New Delhi, Sept. 15 -- New Delhi: Chief economic advisor V. Anantha Nageswaran on Tuesday urged the private sector to keep investing, hire more, and compensate fairly, stressing that the next 20 years will be very different from the past 80 years and that public policy alone can't carry the economy.

India needs to "raise its game" on multiple fronts, he said, calling on private companies to bolster their research and development spending.

"(Government) policy will play its part, but policy can't be the only instrument that drives the economy forward," Nageswaran said at a special session with Assocham, the industry body said in a statement.

At the same time, the government would "continue to remain growth supportive, maintain macroecon...