To ambush China overseas, Indian Business requires Government Aid: Mittal -

To ambush China overseas, Indian Business requires Government Aid: Mittal

Nov 15, 2014 Charanpreet Singh Economy 0

Sunil Bharti Mittal, Chairman, Bharti Enterprises, expressing his concern for Indian business, says, “With an idea to expand globally, Indian corporate firms are in need of dynamic assistance from government. While that active aid in past has been insufficient as compared to that of China, whose government has had big hand behind remarkable success of its companies. Everywhere, in overseas, Indian companies is experiencing the accelerated overtaking Chinese presence.”

Mittal, sharing his past experience of a project with Sri Lanka, said that the Sri Lankan government estimated investment of USD 100 million when his company offered business there. “As I could only communicate, this was informed to Ministry of External Affairs and was also conveyed to officers of Prime Minister Office, but no response came from their side. And surprisingly after a few months, China passed a cheque amounting USD 1 billion that assisted its companies” Mittal told at the Indian Global Forum.

In 2006, Corus, a steel firm of Europe was acquired by Tata. After that acquisition only, huge amounts started being invested abroad for business purposes. Jaguar and Land Rover were also acquired thereafter.

Enormous investments are being made by Indian companies globally. Some are in initial stage, some are developing, while some are tremendously prosperous. “India has its fair extent of goodwill in Africa. But the sum of money China commits in Africa, is unmatchable for us. Indian business can develop and maintain good heights there as well, if government provides its assistance” said Mittal.

For USD 10.7 billion, Zain, an African operator of telecom was acquired by Airtel. That is spread over 17 countries of Africa, although, profit is yet to be registered.

Habil Khorakiwala, Group CEO and Wockhardt Chairman, impressively and appreciatively said that, “HIV drugs were not easily affordable by people in Africa, but Indian companies have thankfully lowered down the price.”

“Favorable changes are being made under the rule of new government, but more is required to be done” said Mittal. “Narendra Modi, Prime Minister asked us to make an introduction of ourselves in Japan. His global moves are really bold.

“Indian business are normally provided with a badge saying “coinciding with Prime Minister’s visit” for overseas visits. It’s a matter of importance, because it does not happen with other businessmen from foreign countries during visits made by their ministers. But, we deserve respect, I have talked to senior officials to not address as delegates and rather use the word ‘accompanying’.” Informed Mittal.

Russian conglomerate Yevtushenkov, the chairman of Sistema was also present in the meeting held between heads two nations. Manmohan Singh the then Indian Prime Minister and Vladimir Putin the Russian President, recollected Sunil Bharti Mittal.

Indian corporate firms, Modi, narendra modi, Sunil Bharti Mittal, tata

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Charanpreet Singh

I am Charanpreet Singh, Content Developer by Profession with 4 years of writing experience and Writer & Photographer by passion. My writing skills and learning urge gave me the required coverage to work with Big Names in the market. Love to write, explore new stuffs, social media enthusiastic, Techno geek and last but not the least, a bulleteer...!!