Ahead of Prime Minister Narendra Modi's visit to the United States later this month, India Inc set the stage for the PM's visit. While talking up the country, Biocon's Kiran Mazumdar Shaw says the bureaucracy in India is becoming responsive and is no longer a deterrent and the government too has become more proactive and pragmatic about Intellectual Property Rights (IPR) policy. But the country needs to resolve tax issues, she adds.
According to her, the current global situation is advantageous for India.
Bharti Enterprises chief Sunil Bharti Mittal too believes PM Modi is exhorting bureaucracy to be more supportive of industry. He believes the world needs to be more pragmatic in opening up visa avenues for India.
Tata Group chairman Cyrus Mistry, meanwhile, says perhaps there is a need for time limit for reforms to be rolled out by the Indian government. A plethora of reforms, including the crucial GST Bill and the Land Bill, are stuck in the Upper House (Rajya Sabha) of the Parliament. While praising the government, he says there is a move to address disputes in a time-bound manner.
Mistry also adds coordination between industry and the government needs to be strong and both trade and services are crucially important for every country's GDP.
The Boeing Company's president and chief executive officer Walter James McNerney Junior says pro-development bias is very new in India. Maybe now there is enough middle class population in India to give that tipping point. "But the question is can he (Modi government) win? We have all lived through fast tracked initiatives in India and but where the bureaucrats eventually got even with the government."
David M Cote, chairman and chief executive officer, Honeywell, says there is room for government (in every country) to be more responsive and "all you have to do is spend some time in Singapore and understand what it can be like. There is a much better way to do this today than how we do it today".
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