Time for India Inc to 'speak up' against policy paralysis: P Chidambaram

Former Finance Minister P Chidambaram on Wednesday said that owing to "an atmosphere of fear", Indian industry is not complaining about the policy paralysis of the Narendra Modi government and urged them to speak up.

On being told that India Inc complained of policy paralysis during the UPA II, but are not doing so now, Chidambaram said: "I just want to make a correction. You said Indian industry doesn't complain of policy paralysis. The correction is the Indian industry doesn't complain (publicly).

"They complain to us privately. Indian industry must speak up."

The Congress leader also cited the happening in the US last month when "business persons and heads of several companies quit US President's (Donald Trump) several committees and councils in protest against what he was saying and doing".

However, stressing that he was "not asking Indian industry to do that", he said: "Industry must at least have the courage to speak up in matters relating to the economy."

Chidambaram also recalled how active business chambers CII, Assocham and Ficci were during the UPA's rule.

"They criticised us in several meetings.

"But, now there is an atmosphere of fear. I am appealing to Indian industry, doyens of Indian industry to speak up. Say what's happening. We just saw major companies shedding jobs. Companies like Cognizant, Infosys shed jobs, Yes Bank shed 2,500 jobs.

"But, they (the government) are sort of papering it over by saying this is normal attrition. This is not normal attrition," he said.