IMP-ost : 12th Nov, 2012
www.i-securesolutions.in : Following leaders
Have you heard this idiom "elephant in the room"?
In English language, this is a metaphor for a situation where everyone knows the obvious truth but no one talks about it. Indian corporate are generally known for keeping mum in matters concerning the role of government in the functioning of the industry.
But finally, one bold gentleman has decided to point the elephant. The man is none other than the outspoken industrialist Rahul Bajaj.
Speaking at the World Economic Forum, he set off a full-blown attack on the government.
He stated that the reason for Bajaj Auto's success was the fact that it did not deal with the government at all. In fact, he went on to say that the corporate group had decided decades ago that they would not enter any business that would require dealing with the government. Evidently, both the group companies-Bajaj Auto and Bajaj FinServ Ltd- are into motorcycles and financial services respectively. Neither of these companies manufactures or buys anything for the government, nor do they have to go through any bidding process.
He stated yet another harsh reality that appears to be at the heart of India's economic problems.
Mr Bajaj said that his company had "piles of cash'' on its balance sheet. Despite this, it had no plans to invest in power plants, coal mines and infrastructure development projects. Why so? The reason was to avoid frequent contact with government officials.
This one sentence speaks volumes- "I want to sleep well at night."
Source : Leading newsletter
Have you heard this idiom "elephant in the room"?
In English language, this is a metaphor for a situation where everyone knows the obvious truth but no one talks about it. Indian corporate are generally known for keeping mum in matters concerning the role of government in the functioning of the industry.
But finally, one bold gentleman has decided to point the elephant. The man is none other than the outspoken industrialist Rahul Bajaj.
Speaking at the World Economic Forum, he set off a full-blown attack on the government.
He stated that the reason for Bajaj Auto's success was the fact that it did not deal with the government at all. In fact, he went on to say that the corporate group had decided decades ago that they would not enter any business that would require dealing with the government. Evidently, both the group companies-Bajaj Auto and Bajaj FinServ Ltd- are into motorcycles and financial services respectively. Neither of these companies manufactures or buys anything for the government, nor do they have to go through any bidding process.
He stated yet another harsh reality that appears to be at the heart of India's economic problems.
Mr Bajaj said that his company had "piles of cash'' on its balance sheet. Despite this, it had no plans to invest in power plants, coal mines and infrastructure development projects. Why so? The reason was to avoid frequent contact with government officials.
This one sentence speaks volumes- "I want to sleep well at night."
Source : Leading newsletter
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