Rahul Bajaj, chairman of the Bajaj Group, hit out at the government accusing it of policy paralysis and weak governance. His comments, made during a panel discussion at the World Economic Forum India Summit in Gurgaon yesterday, led to his sparring with Law Minister Ashwini Kumar, who jumped to the defence of the government.
Speaking on the topic "Reeboting India", Mr Bajaj said no policy decisions were being taken by the government and the country was suffering. Mr Kumar, who was only recently promoted as Law Minister, hit back saying if that were true, how was for Bajaj Industries doing so well in such a scenario. "If we were doing everything which is wrong in terms of policy, how is it that Bajaj Auto is one of the most successful organisations in the last years recording the highest levels of profits?"
Mr Bajaj, who is a former Rajya Sabha member, retorted: "We decided many years ago, decades ago we will not do business where we have to deal with the government. We don't manufacture, we don't buy things for the government."
Other panelists in the session included Paul Bulcke, chief executive officer of Nestlé; Natarajan Chandrasekaran, CEO and managing director of Tata Consultancy Services; Gita Gopinath, professor at the economics department of Harvard University; Chanda Kochhar, managing director of ICICI Bank; and Shekhar Gupta, editor-in-chief of The Indian Express.