Mahindra for industry-politics dialogue

Mahindra for industry-politics dialogueMay 24: There was need for chambers of commerce to have a dialogue with the elected representative...

May 24: There was need for chambers of commerce to have a dialogue with the elected representatives to facilitate a more industry-friendly environment and to ensure enactment of necessary legislation for providing and enabling policy environment, industrialist Keshub Mahindra said today.

Addressing the annual general meeting of the Bombay Chamber of Commerce and Industry here, the Mahindra amp; Mahindra chairman said 8220;lobby does not mean bribery and corruption but it implies making available facts and opinions to MPs and MLAs as they are the ones vested with powers to enact laws.8221;

Mahindra pointed out that there was a distinct delinking of politics and political instability from economic and business issues as seen in buoyancy in the stock market, continued inflow of foreign capital, increase in demand and the general feel-good factor in investor.

He said while the Indian industry welcomed the new mantra of globalisation, free trade, competition, freedom toinvestment, they were not prepared for the dangers of uncontrolled capitalism.

Mahindra suggested that industry should pay greater attention to the 500 million people who comprise the bottom of the pyramid8217;. He was of the view that economy would boom if remuneration to farmers was enhanced by 25 per cent, thus stimulating demand for consumer goods.

Earlier in his address, Chamber president S D Kulkarni expressed an apprehension that Maharashtra might not be able to maintain its premier position if it continued with its unrealistic stamp duty regime and short sighted taxation policies.

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He felt that political instability would serve as a deterrent to attracting international long-term investment in the country, particularly in the area of infrastructure development.

On the occasion, mahindra presented the bombay chamber good corporate citizen award 1998-99 to rajashree aditya birla, hindalco industries limited for its conspicuous achievements in improving the quality of life of the community.

He alsopresented the chamber8217;S Civic award for heritage conservation to municipal commissioner girish gokhale and indian heritage society president shirin bharucha in recognition for their efforts to restore the erstwhile glory of the conservatory of veermata jijbai bhosale udyan zoo.

Leading hotelier vithal kamat was presented with the civic award for developing eco-friendly traffic islands and gardens in the city.