Quoting today’s front page news in The Times of India:
India’s billionaires talk of getting out
“You don’t know what regulation is going to hit. Sometimes it is not even rational. Very old cases are being pulled out. This doesn’t give you a sense of certainty.”Ajay Piramal
“There is a lot of policy back and forth that’s happening… One would want to wait for things to get better. I think it’s a good time to start looking overseas.”Kumar Birla
The rest of this news item talks about the big Indian business barons being tired of what’s happening here and are thinking of shifting their businesses overseas. And here we have our Prime Minister sure there will be FDI in retail by March 2012 and talking about making India “an eminently bankable and creditworthy economy” (front page top right in the same paper) .
Why would foreign companies want to come to a country where doing business ethics and policies are so bad that even the Indian billionaire businessmen don’t want to do business here anymore.
If you ask me (you didn’t but since it is my blog and you are here I’ll answer anyway), it’s time our Prime Minister woke and smelled whatever he’s been shoveling for months to save his partymen and friends. All the bills related to business, progress and most importantly the Jan Lokpal bill which is meant to be a serious blow to institutional corruption (which anyway is the primary reason behind India’s sloppy growth) are hanging in limbo.
When India seems to be on a downward slide, our leaders are not moving a muscle while multiple skeletons keep pouring out of their closets. Come on folks, you were supposed to lead, not be paralysed. We voted for you to be the visionaries of a new and young India, not be the guardians of the old, lethargic and corrupt India that we have all grown to hate by now.
Really, if they do not have it in them, perhaps it is time for the old Congress party to call it a day and retire for good. The biggest question that scares me the most – who next?