Thursday, September 24, 2015

PM Modi interacts with American CEOs: “Is PM exhorting bureaucracy to be more supportive of industry”

On PM's arrival in New York on Sep 23 
PRIME Minister Narendra Modi on Thursday evening will interact with CEOs from financial sector organizations including JP Morgan and Blackstone, during a round-table meeting in New York City. The other American companies that will feature during the meeting include Lockheed Martin, Ford, IBM, Pepsi, GE, Boeing and MasterCard, among others. As the PM will pitch for more investments into India, the question that is likely to be posed is whether…
Indian bureaucrats are now supportive to the corporate. The tax issues (tax terrorism?) in India may also feature in the meeting.
In fact, this issue of so-called bureaucratic bottleneck has been being discussed in the last fortnight, as PM invited top Indian industrialists and bankers to his 7 Race Course Road residence in New Delhi on September 8 to discuss about the economic scenario and how Indian industry should respond to it. Then a number of TV shows invited Indian corporate honchos where too the question of bureaucratic hassles cropped up.
In CNBC-TV, Bharti Enterprises chairman Sunil Bharti Mittal recently said that PM Modi was exhorting Indian bureaucracy to be more supportive of industry. Tata Group chairman Cyrus Mistry in the same programme praised the government saying that there was a move to address disputes in a time-bound manner. But he talked about the need to strengthen coordination between the industry and the government. For Biocon's chief Kiran Mazumdar Shaw, the bureaucracy in India is becoming responsive and is no longer a deterrent.
Ashali Varma, a freelance journalist who authored the biography of her father late Lt Gen PS Bhagat — ‘The Victoria Cross: A Love Story’ wrote the following recently in a column in The Times of India: "My father always used to say the buck stops at the top. You set an example and people down the line will follow. I only hope it works with the bureaucracy today as our Prime Minister is setting the example by his 16-18 hour schedule. Will the babus step up to the plate? That remains to be seen.”

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