Labelling government’s thrust on manufacturing sector as mere “lip service”, Biocon chief Kiran Mazumdar-Shaw has said that ease of doing business in India has not improved and there is no consistency in policies.
Mazumdar-Shaw is one of the few vocal Indian industrialists on government policies and is the Chairman and Managing Director of India’s biggest biotech company, Biocon.
“According to me, right now, the government needs to only focus on ease of doing business and it should also focus on consistent policies, where there is no ambiguity and flip-flopping,” she told PTI in an interview.
“I have not seen any improvement in ease of doing business. It is as complex, and I think the policies are as ambiguous and there is no consistency. That’s all the government has to ensure,” Mazumdar-Shaw said.
She also stressed that jobs in manufacturing sector also have to be supported in a big way.
“Apart from saying Make in India, there is no policy supporting manufacturing jobs. Government is going on focusing on service sector and only paying lip service to manufacturing sector. The government should stop paying lip service to manufacturing and do something if they are serious about it,” Mazumdar-Shaw, who is also the Chairperson of the Board of Governors at IIM, Bangalore.
She said, the corporate India should stop expecting more sops and incentives.
On expectations from the upcoming Budget, Mazumdar-Shaw said the government should focus on socio-economic development and increase investment on education, healthcare, jobs, low- cost housing and infrastructure areas.
“Science and technology and research is another big area, government must invest more,” she said.
“There are policies, which are taking place for socio- economic improvement. Government needs to be far more pragmatic about regulatory ease, that’s not happening. That’s not policy paralysis, its really about focusing on regulatory ease and on consistent policies,” Mazumdar-Shaw said.
When asked whether the Narendra Modi-led government has delivered on its pre-election promises, she said, “its really a question of economic needle of growth improving… then it reflects whether policies are working. I don’t think I want to make a comment on whether they have delivered or not. I think the government itself should be introspective.”
“Its not time for people to say whether they have delivered. Government needs to be introspective… have they actually moved to move the (economic) needle. Yes, there are a lot of macroeconomic factors and external factors but they have actually played to our (India’s) advantage. We should actually be seeing at least more job creation, more infrastructure projects taking off; there are some taking off, I must admit.”
Mazumdar-Shaw added that some of those industrial corridors have taken off.
“As long as infrastructure keeps happening in a big way, then we can say that yes the government is beginning to deliver on its promise,” she said.