Tata Group Chairman Ratan Tata is interviewed in the latest edition of McKinsey Quarterly.
On the reluctance of firms to invest in India he comments:
Most investors today cite caps on foreign investments as a deterrent. But there are sectors where even 100 percent is permitted, and you don't see people rushing in there… a new investor looking at India does run up against different ministries, with each one seeming to have a different angle on the investment and throwing up roadblocks… And once investors are in India, they quite often find that one bureaucrat interprets the law differently from another bureaucrat.
On corporate governance in low-income countries:
I think it is wrong for a company in India to operate in exactly the same way, without any additional responsibilities, as if it were operating in the United States, let's say… Companies that are not good corporate citizens—that don't hold to standards and that allow the environment and the community to suffer—are really criminals in today's world.
Mr. Tata also discusses India's future development and his group’s future strategies (including the development of a profitable -and safe- $2,200 car). He is also a featured speaker at Mumbai.
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