For Sailing Economy through Recession, Hinduja Salutes PM, Team

For successfully sailing the country’s economic through global economic crisis, Hinduja Group global president GP Hinduja has saluted economist Prime Minister Manmohan Singh and his administration, reported PTI.

“The talent in India and the work done by regulators in India and work done by banks – Hats off,” Hinduja said in an interview.

He is in Davos to take part 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.

While expressing happiness at the huge Indian gathering (95) at the forum, he said that everybody was looking towards to India and had great interest to know more and wish to come in, said report.

“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 India and having difficulty finding their way about, Hinduja urged them to find the right local partner to succeed, said report.

“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.

He said that that there was difference between the emerging and developed markets, adding that there are problems in the emerging markets, but the returns are better.

He emphasized that the timing was right for the government to take mileage out of the ‘phenomenal interest in India’, or it would be a lost opportunity, said report.

“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.