What former Infosys CFO V Balakrishnan's move to join AAP really means

In a surprise move, V Balakrishnan, who stepped down as board member of software behemoth Infosys recently creating ripples in the corporate circles, has joined the Aam Admi Party. “Yes I have become the member of AAP, have got the confirmation today,” Balakrishnan told PTI with his move to dabble in politics coming three weeks after his sudden exit from India’s second largest software services exporter.

Balakrishnan is fascinated with the AAP revolution in the country. “AAP is the most successful startup by an IIT-ian ever. I would like to be a part of the revolution happening in the country,” he said.

In an interview to Economic Times, Balakrishnan said that Delhi Chief Minister Arvind Kejriwal needs to find a balance between populist measures and economic growth. “Finally all political parties have to find a balance between populist measures and the economic growth that needs to come in order to support those measures. Somewhere, the balance will happen,” he said.

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[caption id=“attachment_240780” align=“alignright” width=“380”]  V Balakrishnan,CFO, Infosys[/caption]

But it’s not just Balakrishnan. The business community is gradually warming up to the idea of the AAP.

But why is India Inc warming up to the idea of AAP?

There is a large section among the corporate batting for transparency and clean politics. Infosys Executive Chairman NR Narayana Murthy believes that the AAP has destroyed the myth political parties need a lot of money to win elections.

In an interview to Economic Times, Murthy said, “It means if you have a thoughtful message for people, they will vote.”

He also thinks the idea behind AAP is important, for this is likely to encourage more such engagements in politics. If more independent candidates use the AAP methodology and win in other cities, it could even impact the Narendra Modi vs Rahul Gandhi dynamic, he said.

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The party’s emphatic entry into the political mainstream has captured the attention of entrepreneurs and business leaders.

Biocon Chairperson Kiran Mazumdar Shaw also praised AAP’s “amazing” debut and said that “people want corruption free politics based on transparency and responsibility”.She believes that the AAP and Arvind Kejriwal have walked the talk on clean politics and tasted success as a result.

Another businessman who echoed the view was Anand Mahindra, Chairman and MD, Mahindra Group. He is of the opinion the AAP victory meant that India still wants to be an idealistic country rather than a cynical one. “Honesty isn’t just the best policy but the best politics,” he tweeted. The industry lobby groups are, however, yet to make public their stance on the AAP.

Former Chairperson of Royal Bank of Scotland Meera Sanyal praised the party’s economic policies after meeting AAP leader Prashant Bhushan yesterday. Reports say Sanyal is likely to join the party.

Entrepreneur Mahesh Murthy also shows interest in the AAP and finds its ideas interesting. In an interview to Firstpost, Murthy said that though he has not joined the party, he does find certain things attractive in the AAP. “What I find attractive about AAP is the hard work and integrity of its leaders and rank staff and file. I also find their focus on cleaning India of corruption refreshing, idealistic - and also perhaps achievable,” he said.

What all these comments show is that the business community believes in the AAP’s potential. They see the party’s insistence on transparency and corruption-free governance as a viable alternative to the crony capitalism of the established parties.However, there are concerns too. The AAP’s economic policies have been more left of centre and many industrialists are wary about this aspect of its activism.

If the AAP shows the will to shun populism and make decisions based on sensible economic principles, it will boost the confidence of the business community. Many more are likely to be part of it. The AAP can break the myth that only right wing politicians can be business-friendly. And that could spell trouble not only for the BJP, but for all political parties.