Govt still very important for business

1 11 2016

Ratan Tata immediately after taking over as Chairman wrote a letter to PM Modi. Yesterday he called on the LIC ( a govt Financial institution ) Chairman.

If even after 25 years of so called liberalisation, such events are happening with the largest business house of India, what does it tell us about the role of govt in business. Government is still very important. The difference between PSUs and public limited companies is not much in India. In PSUs, govt owns the stakes directly and in public limited companies, indirectly via the public FIs.

The mandarins in Delhi need to be kept in good humour if you have to do business in India. Why are we surprised that India still ranks low in ‘Ease of doing business” Social media campaigns and conferences have not changed the things on the ground. Tata actions is just one example.

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