Tata positive on India, but says India Inc values dwindling

He made it clear that his group, India’s largest conglomerate, was based on strong ethics and would not participate in corruption and bribery. “India (may have) had many changes of government, but the outlook ‘might not be as bad as you might think… I would have hope’,” The Australian quoted him as saying.

Tata said he expects China to move towards democracy. He said many democracies would also have to find ways of “enforcing what they want to do if they want to move forward”.

Tata said that Australia and India should step up bilateral trade ties, especially in high-technology areas, adding that there was good reason for the countries to “do much more together than they have done”.

“Australia is a vibrant economy,” Tata said. There were areas of high technology where Australia was “at the forefront” and India could benefit from this.

“India seeks some of the technology that Australia produces,” the 74-year-old chairman of Tata Group said.

At the same time, he said that India had a much larger population of some 350 million middle-class consumers.

Trade between Australia and India has soared over the past decade, growing from $3.1 billion in

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