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An interview to Sumit Mazumbar

An interview to Sumit Mazumbar

Sumit mazumdar ,a leading industrialist with interests in construction, mining and power systems, has taken over as president of the Confederation of Indian industry (CII). In an interview,he talks about the performance of the government and the expectations of  India Inc.Excerpts.

An interview to Sumit Mazumbar,check out here

Do you think India Inc is upset at the slow pace of reforms?

My reaction is I disagree. I don’t think India Inc has been restless just because two or three people may have written something in the papers. It does not reflect what India Inc is thinking. My personal view is India Inc is very impressed with the progress that has been made in 10 months. If you go back in history and think of any other government that has achieved so much in such a short period you will not come up with anybody. Now, they are working on the land bill. I don’t know what will be the fate of the land bill, but it is a bill that has been drafted very well. I would like to see it goes through.

What do you make of the statements of Deepak Parekh and Harsh Mariwala about India Inc’s disappointment with the pace of progress? 

They are individuals. They have a right to express their own opinions. I have no intention to comment on their statements.

Do you see investments picking up? 

As far as domestic investors are concerned I see investments are picking up. Not that everybody is queuing up to invest but the motion has started. Private projects are getting off the ground.

Is ‘tax terrorism’ still a big scare for industry? 

No. I think the words used by the FM were so correct that India is not a tax haven. If there has been an anomaly, the government is fully within its right to correct that anomaly. The tax terrorism I don’t think is true at all. If you have defaulted, you will get a notice so what is the big deal? And, you deserve to get a notice if you have defaulted. I think it is more like a knee-jerk reaction and it is overplaying something.

What are the key things that you would want the government to do over the next 10 months?

The one thing that I want the government to do is to carry on what they are doing. What they have achieved so far if they can keep this pace up, which I am sure they will, that’s what I would like the government to do. If you want me to do a critique and ask me to say what is wrong I would have difficulty finding what is wrong and I am not being polite or diplomatic about it I am being very frank.

Do you think the aggressive right wing groups are distracting attention from the government’s work? 

We are a country of all religions. I think these are aberrations and not even a drop in the ocean. It does not bother me.

Does it impact India’s image overseas? 

To an extent it might do but the serious industrialist does not fall for it. It is the uninitiated that may fall for it but the initiated will not fall for it.

Do you think issues such as a ban on eating beef may scare the foreign investors?

At the end of the day what does a foreign investor come for? He does not come for the health of India. It is a business opportunity for him and he has done his homework and he knows he is going to make money out of it and that’s what he is interested in. I don’t think any foreigner if he does not have beef for three months, is going to wither away. I don’t it is such a big issue. It is not something I am going to lose sleep over it.

Do you think corruption at the top has reduced? What is your experience as an industrialist?

If you recall the previous government, it was scam after scam. At least today the whole perception has changed and that’s a positive because at the end of the day a nation is built on values and honesty. A nation can’t be built on scandals, scams and bribery.

An interview to Sumit Mazumbar,check out here

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