Industry should not ask for things that will make FTAs difficult: Sunil Mittal

Sunil Mittal, Chairman of Bharti Enterprises

Former CII President Sunil Mittal welcomed the progress on trade pacts between India and leading economies, adding that several others bilateral negotiations are in advanced stages, however, India Inc should yield on some of their demand that can delay the BTAs. "Industry should not ask for things that will make these FTAs will become difficult, it will help." The Chairman of Bharti Enterprises was speaking at the CII Annual Business Summit on May 29 in New Delhi.

Mittal also urged industry to collaborate with government in co-creating policies, and nudged CII to get more involved in pushing for 'One Nation, One Election' reform. "There are too many disturbances during elections, even the PM has analysed it, and sees the importance (of the reform)," said Mittal. "We need to get there, and CII should form a panel and show the benefits (of ONOE)."

Mittal said this will need to be a collective effort by the industry forum, and doing so, India Inc may end up contributing to a important national issue. Voicing support for a key reform will also show that the industry can looking beyond profit, said Mittal.

Businesses have often cited the impact of multiple phases of elections - both at national and state levels - on orderbook along with infrastructure and construction-related works, which also dampens demand for a brief bit.

Sunil Mittal also said the CII should give the Centre suggestions that will help India Inc with an easier runway in ease of boing business (EoDB). The industry will do its job, said Mittal, but the government should help of enabling policies that will further encourage in the ease of business, which is an area that the Centre tracks closely, and has delivered on it in the past. Read More

Mittal acknowledged that taxation policies are get getting better, but more work needs to be done, and encouraged the industry to give up the 'fascination' for tax exemptions. "I am surprised that the entire industry is still not there," said Mittal, on the demand for tax incentives by businesses.

At the same time, the Centre needs to free up large sums stuck in taxation-related litigation, said Sunil Mittal, adding that schemes like 'Vivad se Vishwas' can help unlock large amounts in tax-related cases, which will give fillip to the industry.

The former CII President lauded the Centre for having ambitions that are greater than those of the industry, and said India Inc will play its part in nation-building. Further trust between industry and government should be fostered, said Mittal. "It is rare to have a large market in one country, and the government's support."

"It is time for us to say, what can we do for the country", said Mittal, adding that businesses need to help ensure all stakeholders are equally taken care of.