Ask what you can do; charity begins at home: YC Deveshwar

The government recently announced that the nation's GDP is at 5.5%. This suggests a slowdown in many sectors. However, ITC chairman YC Deveshwar is optimistic and India’s growth. CNBC-TV18's Shereen Bhan asks the captain of industry if India Inc can revive economic growth if it advances its investment programme.

"Though everybody says that the investment climate is very sluggish and wants to advance the investment programme by one year, they think the problem will be solved. But everybody wants someone else to do it. If you go through the books of some of these companies, many of them are cash-rich," said YC Deveshwar.

Q: You are telling corporate India to stop whining?

A: I would definitely say that charity begins at home. I think it is best that before pointing a finger at somebody else, everybody should first ask oneself what he or she can do to solve the problem.

Q: Did some of the regulatory problems impacting your Rs 25,000-crore capex plan as well?

A: Yes, but it is nothing new in India and has always been so. So let us reform and yet not stop criticising. But let us not spread the gloom because it will always boomerang on us after a while.