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| Hinduja praises PM and team for India's resilience |
| Prakash Chawla/PTI / Davos Feb 01, 2010, 14:11 IST |
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Hinduja Group global president G P Hinduja today saluted Prime Minister Manmohan Singh and his team for sailing India through the global economic crisis with ease.
"The talent in India and the work done by regulators in India and work done by banks - Hats off," exclaimed Hinduja, who is in Davos to participate in the World Economic Forum's (WEF) annual meeting.
"In the worst of the time, they were able to sail India in the most comfortable way and the full credit goes to Mr Manmohan Singh and his team," he said in an interview.
Expressing happiness at the large Indian gathering (95) at the forum, he said everyone is looking towards India and have great interest to know more and wish to come in.
"I would have come across Americans, Japanese, Chinese, Europeans from all parts of the world (saying) we are keen and eager to come to India but say that no sooner we reach there we get lost," he said.
For those interested in the world's second fastest growing economy but have difficulty finding their way about, he suggested looking for the right local partner to succeed.
"I told them in every country you have to find the right local partner and go along with the system. Don't expect to have better returns by just operating like developed world," he said, adding that there is difference between the emerging and developed markets.
Though there are problems in the emerging markets, the returns are better, Hinduja said.
Further, he said the timing is right for the government to take advantage of the "phenomenal interest in India", or it would be a lost opportunity.
"The inerest in India is phenomenal and it is the right time for the Indian governmet to take the advantage and not miss the bus," he said though accepting existence of infrastructural bottlenecks.
"The government knows the problem ... It is not that they are unaware. They should find quick solutions. There is no dearth of money. If India has to maintain growth, they need FDI in infrastructure," he said.
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