Negativism impacts entrepreneurship: Chidambaram

Echoing Prime Minister Manmohan Singh’s views, Home Minister P Chidambaram today said India cannot unleash another wave of entrepreneurship and global business building if it continues to nurse the mood of negativism that seemed to have gripped the country. “We cannot unleash another wave of entrepreneurship and enterprise building and global business building if we continue to nurse the mood of negativism that seemed to have gripped the country,” he said after unveiling a book ‘TCS Story…and Beyond’ by S Ramadorai in New Delhi. [caption id=“attachment_116178” align=“alignleft” width=“380” caption=“Chidambaram said if investments do not come today, India will face a huge negative impact in the coming years. PTI”]  [/caption] Referring to the economic conditions in India between 1975 and 1985, Chidambaram, a former Finance Minister, said the country knows what kind of system it was and how it was broken. “I think those phases between 1975 and 1985, we know what kind of system we had at that time, how we broke that system…we replacing that dysfunctional system by another dysfunctional system, which is going to exert big price,” he said. Chidambaram said if investments do not come today, India will face a huge negative impact in the coming years. “If investment does not take place today, it may not hurt demand today, it may not hurt supply today, but two-three years down the line, we will pay huge price for absence of investment,” he said. Addressing the National Development Council meeting on Saturday, the Prime Minister had said at times like this it was of vital importance that “democratic institutions, like the executive; judiciary; Parliament and state legislatures; constitutional and regulatory authorities, understand their due role and play that in a constructive manner”. PTI