India is no longer a darling of MNCs: Microsoft

Global software major Microsoft today said that for MNCs, India is no longer a preferred destination.

"It doesn’t make sense any more. For MNCs India is no longer a preferred destination. We have lots of issues concerning our operation here," Microsoft India chairman Bhaskar Pramanik said when asked if the company is considering any R&D centre for West Bengal as it seeks to work closely with the state government.

He was speaking to reporters on the sidelines of Infocom 2011 conference organised by Businessworld.

Pramanik later clarified that he was speaking about technology and IT companies.

"I think a lot of that need to be resolved. We have to be cautious about any new investment in the state," he said.

Asked what the issues were, he declined to list the challenges or issues the technology MNCs were facing.

"I think you had better talk to Nasscom. It is the voice of the industry," he said.

Nasscom regional (east) head Suparno Moitra declined to comment.

Asked to throw more light on 'preferred destination', Pramanik said, "I think we look at everywhere in the world. I think choices are many," he said.

Meanwhile, reacting to the Centre's decision to suspend FDI in multi-brand retail till a consensus is evolved, Pramanik said he felt disappointed with the government’s decision.

"FDI in all form is good - be it in retail or aviation," he said.

"We have a strong corporate sector, central and state governments. Checks and controls could be put in place to ensure net gain for the country in terms of employment, growth and earning rather than being negative," he said.