Too many obstacles to doing business in India: N Chandrasekaran
MUMBAI: India is full of micromanagement and suspicion, and increasing the growth trajectory requires removing obstacles that prevent companies, Tata President of children N Chandrasekaran He said Thursday.
Growth cannot be achieved simply by pressing people to move quickly and requires a transformative vision and a change in culture, said the conglomerate chief of $ 110 billion, delivering the Nani Palkhivala memorial conference here.
Comments come in the midst of a decline in growth to a minimum of 5% expected for the current fiscal year, and also years after the Narendra Modi The government made it easy to do business as their priority, along with a commitment to less government. “We need to reinvent our economic and commercial culture. Culture is the most critical. Growth should not come from pushing hard. It makes no sense to tell people drive fast, drive fast, drive fast. The (growth) will be removing obstacles, ”he said.
A transformative vision that will ensure that we move away from a controlled micro-management vision is the need for time, he said.
We need supervision, we don't need suspicion. And we have suspicion. All our rules are based on suspicion, ”said Chandrasekaran. He lamented that the people who work hard and honestly face enormous difficulties and the Indians excel in turning an ordinary task into an extraordinary one. There is a great risk aversion within the system, which has led to an undesirable balance where it is safer to avoid or delay decisions, he said, and proposed better supervision and supervision of work.
Achieving growth inherently implies taking risks and we must applaud those who take risks, he said. The biggest aspect that India needs to solve as soon as possible is to ensure that we deliver jobs for society in general, he said, warning that 90 million people will join the working age in the new decade.