Vineet Nayar’s interview with Vivek law on political capital: Bloomberg TV
Transcript of Vineet’s interview.
Q- Vineet the market certainly seems to be voting for a change. Is that the general feeling you get when you talk to your colleagues in a corporate World?
I think so and Vivek my view is that we have to see this from couple of different perspective.
For the last ten years we had a governance issue. We had virtually many governments running the governance rather than a single government and irrespective of the amount of mandate NDA gets I think we are going to see at least a chance of a better governance, that would impact what I called the "efficiency of the way the governance really runs”. And that itself will drive the GDP growth rate up to 6% in my mind so you will have better decision making, better environment.
Current policies will be implemented with more transparency and I m hoping that and therefore that layer of efficiency in governance for which you do not need great mandate you know
Narsimha Rao ran a very low mandate but delivered a efficiency in delivering the policy which were announced. So that’s the first part of it - how can we get higher efficiency compared to the past and can that drive GDP growth rate and I think thats what the market has already baked them.
Q- Vineet Nayar what would you want the new government to do quickly in terms of low hanging fruits?
I think couple of things that are very important for us to understand is developing country like India would:
Have significant number of constraints and therefore when you start looking at what will not work or what is not working or what are the problems on the ground .you can actually drown yourself in that conversation and discussion and that is exactly what has gone wrong over the last few years where we have drowned ourselves in a detail and not looked at the big picture.
We have to step back and look at the big picture the big picture in front of us is a fact that we have a 25 year runway where we need to get sustained 10% growth rate of GDP for us to really emerge at the very strong economy where per capita income of every Indian is high enough for us to be proud about it.
And that would start by creating jobs so we have our singular object of new government and hopefully it would be Narendra Modi would be to try and see how do we get the economic engine is growing and through that economic engine growing how can we create resources and how can we deploy those resources in a effective fashion so that we can create the 10 million jobs and how can we improve the bottom of the pyramid governance so that each and every person feels the quality of governance improving. Now if the government plagues in my mind takes few items not many just few items and effectively executes on them I think that would be a recipe for success. There will be a lot of noise around and you know as some of my panel members said rightly so that the electronic media and media is now very alert and there will be huge amount of noise as happened with Arvind Kejriwal and there will be many parties that will try and hijack the conversation from one incident to other incident and therefore we need a very strong leadership which is able to look beyond incidences look beyond problems look beyond pot holes and see the bigger picture and try and execute on the bigger picture.
Posted: May 26 ,2014 by admin
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