Letter to govt meant to pressurise action, says Godrej

A day after corporate India sent an open letter to ‘our leaders,’ speaking to CNBC, Jamshyd Godrej one of those who signed the letter, said that it wasn’t out of frustration that the corporate leaders wrote to the government, instead that the letter was meant to create public debate and thus presssurise the government into bringing in long pending reforms that will ensure greater growth and development.

The letter signed by industry and corporate heavy weights like Jamshyd Godrej, Azim Premji, Keshub Mahindra, Deepak Parekh, Anu Aga and others, urged the government to take urgent action on issues including tackling corruption and bringing in greater transparency in government functioning.

Godrej said that unlike the first letter written in January that demanded the establishment of Lokpals and Lokayuktas in states, the purpose of writing this time was to bring transparency in government proceedings and move forward on tackling the issue of corruption.

He pointed out that laws in India give the polity and the bureaucracy discretion in interpreting and implementing the law, and that often corporates, politicians and bureaucrats work in a nexus, impeding growth.

Godrej also stressed on the need to auction scarce natural resources to bring in greater transparency within the economy.

On the issue of Indian industry investing abroad, he said that it isn’t a sign of Indian companies losing confidence in India; rather, it is a sign of Indian companies growing out of their shells and feeling confident on the global stage. He said he was confident of more foreign investments coming to India in the near future and that India’s internal affairs and debates will not affect these investments.

“This is a process. It is happening across the globe. There is never enough reform done and there is always a scope for improvement and bringing in more transparency. Foreign investments will not be affected by this,” he said.

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