No foreign investor has raised corruption issue: Chidambaram

Written by P. Vaidyanathan Iyer | Updated: Jan 30 2011, 05:58am hrs
On the penultimate day at Davos, Home Minister P Chidambaram spoke to P Vaidyanathan Iyer of The Indian Express about the India show at the World Economic Forum (WEF) and asserted that no foreign leader or investor has raised any issues on corruption back home. Excerpts:

Some WEF participants have raised issues relating to governance deficit and corruption in India. Any comments

No foreign leader, investorand I have met dozens of them over the last few days has raised with me any issues relating to corruption or money laundering. Nobody has spoken to me about these issues. It is unfortunate that a section of the Indian media is playing up this issue. In fact, we have discussed issues relating to investment, international economic situation, and the crisp growth rate that India is recording, even in a time of uncertainty.

Will the high inflation back home kill growth

Its quite clear in the global assessment that energy and commodity prices will remain high. Food inflation will also perhaps be high, globally. Some of its effects will indeed be felt in India. Therefore, Indian policy makers and authorities must factor into their policy the fact that commodity, energy and food prices may remain high through 2011. That is the lesson that we have to learn from what we have gathered in the last few days.

There have been some concerns on whether the inclusive growth agenda will affect government finances and hurt growth in the medium term.

All countries, and I think even IMF, are supporting fiscal consolidation. We have a fiscal consolidation path laid out by the Vijay Kelkar report. The finance minister, in his last budget speech, laid out the fiscal consolidation path. As long as we adhere to this pathand we have assured foreign investors that India will adhere to thatI dont think there is any issue. I havent heard any serious concerns about our ability to adhere to the laid out fiscal consolidation path too.

After the Moscow blasts, are you considering an upgrade of the security infrastructure at airports

Global leaders reckon that security is a 24x7 affairs. I didnt hear any great debate on security. The world has factored in the possibility that terrorist attacks will take place in one part of the world or another. All that national governments can do is to continue remaining alert and strengthen security.