Today during the presentation ceremony of NDTV Profit’s Business Leadership Awards at Mumbai in the presence of Union Finance Minister Pranab Mukherjee , Sunil Bharti Mittal who received the award for Corporate Conscience Person of the Year made an interesting comment . He said the Indian Corporate leadership is holding back and not performing at their full potential . The main reason he attributed to this is the Government inaction or lack of support in creating an environment where the Industry and Business can do their best .
A bold statement which many others from the Industry may support in the prevailing sentiments displayed by all stake holders. Sunil Mittal said we are losing out on global opportunities especially when there is confusion in the western corporate world and slow down in the Euro zone .
This indictment on the government and also on the opposition parties in not being bold enough to move proactively to seize the moment in the global business arena needs serious thought and action. Most of the Industrialists echoed the sentiments and remembered with nostalgia the environment which was there during 1991 when India opened up the industry for the first time .
The bane of coalition politics , a weak economy , global melt down and lack of a long term view coupled with the tendency to play to the election cycles when major decisions are taken all have contributed to this decision paralysis. Good intentions remain only in the drawing board and often get hijacked to meet short term political objectives .
The Government , the industry and the society at large should come together casting away petty and parochial political brinkmanship and work towards the triple bottom lines of profit , people and planet to ensure that India carves out its rightful position in the global market place during the next five years.