Tender process for large projects is broken: L&T chairman A M Naik

Citing a survey conducted in January, the L&T chairman said Modi's approval rating is highest at 78 per cent, which is way ahead of US President Joe Biden at 40 per cent

The tendering process for awarding construction contracts by the government is broken and needs to be fixed urgently to reduce cost overruns to the tune of trillions of rupees, said Anil M Naik, outgoing chairman of Larsen & Toubro (L&T), India’s largest construction and engineering conglomerate.

In an exclusive interview here with Business Standard, 82-year-old Naik — who would face L&T shareholders on Wednesday for the last time as chairman — expressed willingness to collaborate with the government after retirement on September 30 to streamline the tendering system or on any project of national interest as long as it “does