The private sector will propel India to a different level as accountability and profitability would matter in the long run, while the role of the government is to regulate the system. The country needs structural collaboration from the public, private and academia as it targets to become a $10-trillion economy, according to JSW Group chairman Sajjan Jindal.
“We need a thought process that is not driven by socialism, believing that only the public sector can deliver growth in the country. On the contrary, in my view, it is the private sector that will propel India at a different level. This is because worldwide the public sector has failed, and I am a strong proponent that the government should not be doing business,” Jindal said.“I believe in the private sector because it’s ultimately the accountability and profitability that matter. It is the private sector and its publicly-listed companies which finally deliver and will take the country to a different level. The role of the government, the administrators, the bureaucracy is to govern and regulate the system,” he added.
Jindal was speaking at the inaugural ceremony of JSW School of Public Policy’s building, a multi-facility centre set up at the Indian Institute of Management, Ahmedabad, campus. The Centre would bring new ideas to change the colonial thought process with which bureaucracy has been taught over the years and bring in a new modern thought process, he said.