November 11, 2009 12:03:29 am
Foreign investors in India have been more than comfortable in their dealings with the government despite the laundry list of infrastructure,social and security issues they discussed during the World Economic Forum summit in New Delhi. Thanks to the immense demand from Indias billions of consumers,chief executives of the world believe there is enough upside in India to overcome some of the inherent challenges,including power cuts at their factories,questionable labour rules and security challenges posed by Naxalism and terrorism. Others hope they can tackle some of the challenges while their companies turn a profit
James H Quigley,CEO,Deloitte
I have great faith in continued strong growth in GDP,which has been positively driven by an effective financial system. This is the best time for Asia. Asian economies,like India,China and Japan,did not experience the same financial turmoil as the western nations. We are definitely looking at expanding our base in India. From a workforce of 8,500 at present,we shall be growing to 11,500 next year and around 15,000 in two years.
Wolfgang Lehmacher,CEO,GeoPost Intercontinental SAS
There is an attractive growth opportunity in India. India started a major boost recently with the services sector,which does not need massive investments in infrastructure. We shall be looking at duplicating our Delhi operations in other metros like Mumbai and Bangalore. I will be meeting the industry captains and will indirectly,through them,try to reach the Indian government and put our views across.
Joerg Mueller,Volkswagen India Pvt Ltd Chief representative
The government should work on creating local demand. It has to increase in the future. The government took up a lot of actions like extending excise duty cuts,etc,to fight the impact of the global recession. India reacted fast,which has helped it towards a fast recovery. India has an inherent value of a huge domestic demand while China is an export focused economy. There will be power cuts. That was a reality we knew about.
Sachin Duggal,CEO,Nivio Technologies India Pvt Limited
In the beginning,our first operator was Bharti Airtel. They provided us an eco-system we could launch with. We are happy to note that the incumbent operators are now opening up to us. The issues we hear over and over again red-tapism,transparency,visibility,what to do next,who to speak to are a problem around the world,but I think they are magnified in India because so much needs to be done so quickly.
Viktor Popovic,CEO,European American Investment Bank
I have been very happy to see that the government is committed to doing all of the right things to sustain and enhance growth. I think India has a lot of internal challenges to overcome. What Id like to see very much is a great commitment to accelerate the implementation of policies. Its also right for the government,and the entrepreneurs,to address some of the social challenges.
The government of India has been wonderful and extremely cooperative as have all of the states in which we operate and have all of our facilities. We look forward from here. This is a vibrant place and we will expand our business. I think our search is always finding the best talent we can. Making sure we have the right talent,we have to build a brand here,we have to build a recruiting machine.
Carlos Ghosn,CEO,Renault and Nissan
Execute. If you want me to be brief,just execute,just do what youve said youll do. Build the roads and highways that have been announced by Minister Kamal Nath. I think it is feasible,other countries have done that. Theres no reason why its not achievable. Weve heard from the prime minister and from the minister of the economy. I think the plan is exactly right. Now I just expect it to be done.
We invest significantly in India and we consider India to be one of the most critical markets to the future. We are aware of the neighbourhood India operates in,but we are happy with the action taken by the Indian government. You cannot just import Western solutions to India. You have to crack solutions which are right for India,right for the people,right for the country,right for its farmers.
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