The NDA government under Prime Minister Narendra Modi has completed a year in office and is being seen to actively address the concerns of India Inc. related to the ease of doing business, policy paralysis and red tapism. Now one year down the line, has the situation on ground become better for Indian Industry to operate in India or is it a mere change in perception?
At a session titled Brand Bharat: the Route to reaching A New India, Kamal Bali, MD, Volvo India and Rajesh Sud, MD & CEO, Max Life Insurance in conversation with Gurbir Singh, Executive Editor, Business World, discussed how things have really changed in the last one year.
â€œFrom my point view, as we see things in the last one year, I would say that Brand Bharat appears far more confident, optimistic and actually seems to be putting the foundations in place to sustain a high growth economy, which is what is often desired by all of us,â€ said. Rajesh Sud.
He pointed out that the country had in real terms seen a movement and that there has been movement towards decision making. Citing the example of the Insurance Bill, he said, â€œThe bill has been hanging for the past 10 years, and now we have something, even if it came in the form of an ordinance.â€
Kamal Bali concurred saying, â€œThere is a lot of optimism for India and hope from the new government. People feel that this government is on the right track and is raising the right issues in terms of â€˜Make In Indiaâ€™, urbanization of Smart Cities, Digital India. These are some of the catchwords being used and may be symbolic, but at times symbolism is very important. And then you set the direction in the right way.â€
However, according to Bali, the government must not stop here and should continue to take further steps so as to make circumstances conducive for doing business.
Pointing out the problems relating to bureaucracy in India, Kamal Bali further said that India still had the administrative machinery of the 20th century managing the aspirations of 21st century India.
â€œThere is inertia and a mindset change is required. I think these are some of the challenges which the government needs to get over very fast because for India to grow at 9-10 percent over the next 10-15 years, this is a propelling need and not an aspiration,â€ he added.
The event was the launch of the 11th edition of BW|Businessworld Marketing Whitebook 2015 at The Leela , Gurgaon