What ails India #1: Big Business is as much to blame for the current mess as the Central Government

Posted on June 18, 2012 By newsguide Topic: India

Other than outsourcing, copying of patented drugs, buying government-owned companies at discounted rates, getting licenses and policies fixed in collusion with politicians, and getting outrageous amounts of land to set up colleegs and campuses, what good have Indian businesses given to this country that they so righteously condemn the central government for 'stalling reforms' among other things? This is what this good article in the Open Magazine asks in 'Why Are the Suits Crying?'

  • Point 1: Like the mamas of some businessmen, research is a tax-saving device in India; and social work a way of keeping wife and daughter-in-law employed.
  • Point 2: Corporate India invests very little in science or strategic philanthropy

    Point 3:  Indian companies have traditionally leaned more on purchasing policy or turf than on competitive innovation. In fact, if t...The fact is that a Jaguar is the real jugaad.

    Point 4: Indian software outsourcers got cheap land and tax breaks from the government but so far India has not moved up the chain.

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