The key to sustaining economic growth and promoting development is good governance and quality decision making.
In the recent past, we have been witness to some very unfortunate developments. We find that cases are being registered against top bureaucrats and industry icons. It goes without saying that such developments dent the national psyche and also dampen investor confidence; both domestic and foreign. There is also a feeling that with repeated episodes of a trust deficit between Industry and Government, the business sentiment and the investment environment would be vitiated and India could slip further from the growth trajectory that is so necessary for us to maintain.
Ms Naina Lal Kidwai, President FICCI further added that “we also need to bring back a regime of courageous decision making. Decisions made in the interest of progress, when made in a transparent manner with no personal gains and without malafide interest are critical for growth. Capable and highly regarded officers and business leaders cannot be made scapegoats of mere suspicion and misconstrued actions”.
There is a need for a conducive environment for businesses to grow and recent events in India highlight the ever pressing need for a constructive dialogue and engagement between Industry and Government failing which there will be a negative environment which will affect decision making and investment sentiment.
These are comments from FICCI and not views of ED.