There is nothing wrong with what Ratan Tata has observed about Indias diminished standing in the eyes of the world. And there is no doubt that India has fallen short of the worlds expectations. This is evinced by the rapid exit of FIIs from the Indian market. When the going was good, our government thought better of introducing much-needed, painful structural reforms. Instead, it proceeded to antagonise business, most notably in the Vodafone case. More than anything else, it has now become clear that the UPA-2 is unable to remove administrative bottlenecks and unfriendly regulations.
New plant Not really
This refers to the news report titled Maruti, Tata Motors plan plants in South America (FE, September 2). This is incorrect. The company has no plans to set up a manufacturing base in South America.
Deputy General Manager,
Maruti Suzuki India Limited