India Inc bats for more investment, wants more corporate involvement in politics
If we are able to elect a stable government with a focused mandate on socio-economic progress, investments are likely to follow.
SD Shibulal
Chief Executive Officer and Managing Director, Infosys
Agenda for new govt:
The agenda for any government should centre around envisioning an inclusive future, enabling growth through investment regulation and strong governance; and building confidence, transparency and trust. In the long-term, the government must work as an enabler of growth through effective policies, faster decision making, single window of clearance and conducive taxation regime. If we are able to elect a stable government with a focused mandate on socio-economic progress, investments are likely to follow.
ON CORPORATE STALWARTS JOINING POLITICS:
I see this as a welcome trend. It is a sign that people from all walks of life and from various socio-economic, cultural and ideological backgrounds are now coming to the forefront and driving change … I expect this trend to increase in the years ahead. It is in the best interests of our nation. ENS
Naina Lal Kidwai
Country Head, HSBC India
There are about six focus areas ranging from reviving investments to solving factor market problems, those of labour land and capital, the new government has to solve for. At the same time, rising NPAs and fiscal health of banks need to be addressed. It was not surprising that bank licences were given only to two firms. It happened early in the tenure of the RBI Governor and happened despite the elections. The agenda of financial inclusion will be helped by not only growth in existing banks but also setting up new ones.
Diversity of talent always helps any organisation and different skills improve productivity. This will obviously be very helpful to the Lok Sabha as these candidates are not just from the corporate sector but are people who have run large organisations and understand how to tackle complex problems. ENS
KIRAN MAZUMDAR SHAW
Chairperson and Managing Director, Biocon
AGENDA FOR NEW GOVT:
Ease of doing business must be a strong focus for the new government wherein simplification of Rules 7 Regulations that allow for greater self-regulation and deemed as well as automatic approvals will help to do this. Simplification of tax laws are also necessary. All these will boost investor confidence. Inordinately long approval timelines have deterred investments big time and many mega projects have simply not taken off. If reforms are initiated on a war footing, yes there will be a spurt in investments.
I think we must manage our expectations and not get too carried away with such events. I think it will take political leadership and political will to make bold policy changes including those related to land acquisition, labour and foreign direct investment in retail. ENS
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