tata chief lashes out at \venal\ indian business climate
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Tata chief lashes out at 'venal' Indian business climate

Arab Today, arab today

Arab Today, arab today Tata chief lashes out at 'venal' Indian business climate

Mumbai - AFP

The outgoing head of the Tata business empire warned Friday that a lack of government support was preventing Indian industry from competing with China and lashed out at a "venal" business environment. In interviews published ahead of his retirement as chairman this month, Ratan Tata criticised what he called a lack of coherence in government policy and said the Mumbai-based group's ethical standards had cost it business. Tata, a sprawling conglomerate whose portfolio ranges from salt to software, has earned itself a global reputation for its eye-catching purchases of Western companies such as Jaguar Land Rover and Corus Steel. Tata told the Financial Times that his group planned to look to other emerging markets for expansion and accused Prime Minister Manmohan Singh of forcing it to look abroad by failing to address complaints about bureaucracy. Singh's government is currently steering a series of economic reforms through parliament which aim to open up sectors such as supermarkets, insurance and aviation.But Tata, whose global sales total $100.9 million, said investors were being deterred from India and complained that it still took the best part of a decade to gain clearance for major projects. "Different agencies in the government have almost contradictory interpretations of the law, or interpretations of what should be done," he told the London-based newspaper. "These are things which by and large would drive investors away in most other countries," he added. Tata contrasted the Indian government's attitude towards its industrial sector with that of its counterpart China where Tata recently opened a Jaguar Land Rover factory. "There's a great, marked difference (in) government support," he said. "If we had the same kind of encouragement to industry... I think India could compete definitely with China." In a separate interview published in the Mumbai-based DNA newspaper, Tata said his successor Cyrus Mistry would face a major struggle not to compromise the group's ethical standards. "They (Mistry and his fellow executives) will have to make decisions and, when they do this, they will be constantly faced with the question: do you compromise, do you give in?" said Tata, who stands down on December 28 when he turns 75. "You can call it by another name, but in playing this game of appeasing or surrendering to a venal system, the soft option, the easy way out is a compromise." Tata was the driving force behind the creation of the Nano, billed as the world's cheapest car when it launched in 2008. But with annual sales lagging below the 100,000 mark, Tata said there should be a rethink on how it is marketed. "The Nano was meant to be an affordable car for the family, a vehicle that delivers outstanding value for money," he said. "Unfortunately, it has come to be perceived as a low-priced car and various stigmas have been attached to it... I think that is the wrong way to go," he added.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

tata chief lashes out at \venal\ indian business climate tata chief lashes out at \venal\ indian business climate

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

tata chief lashes out at \venal\ indian business climate tata chief lashes out at \venal\ indian business climate

 



GMT 12:48 2016 Sunday ,27 November

Cilic, Dodig push Croatia to brink of Davis Cup

GMT 05:24 2017 Thursday ,28 December

Erdogan says 'terrorist' Assad cannot be part of Syria

GMT 12:59 2016 Saturday ,05 November

WB welcomes economic reforms in Egypt

GMT 18:40 2016 Saturday ,05 November

Egyptian GDRs in London down

GMT 10:57 2017 Wednesday ,06 December

Peru striker Guerrero has doping ban extended

GMT 17:51 2017 Tuesday ,07 March

Trump Signs New Travel Ban on Six Muslim Countries

GMT 10:30 2017 Wednesday ,06 September

Saudi Information Ministry praises media role during Hajj

GMT 15:29 2017 Tuesday ,24 January

Mind games really do help your brain

GMT 06:55 2015 Thursday ,01 October

Boston Red Sox beat Yankees

GMT 08:17 2017 Monday ,28 August

Bahrain celebrates World Humanitarian Day 2017

GMT 02:07 2017 Tuesday ,28 February

Opposition seeks Russian support at Syria talks
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday