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`India as a phenomenon was waiting to happen'

Our Bureau

Ahmedabad , Nov. 23

Unless the Government steps into the infrastructure development sector in a really big way, the fruits of economic liberalisation and globalisation cannot be sustained for long in India, Mr Subodh Bhargava, Chairman, Videsh Sanchar Nigam Ltd (VSNL), said here on Thursday. Inaugurating "Confluence 2006" at the Indian Institute of Management-Ahmedabad (IIM-A), he said India's economic progress and industrial growth so far has largely been despite the government rather than because of it. But fruits of the last two decades of growth cannot be sustained without smoothening the supply chain management between the manufacturer and the consumer. And this is not possible without putting world-class infrastructure in place.

Speaking on "The India Phenomenon", the central theme at the four-day International Management Summit here, he pointed out that India, as a phenomenon, was "waiting to happen" and veteran leaders and professionals had hinted at it some four decades ago. But subsequent developments since then alienated the business classes from others as a host of dilemmas came to the fore until competition was unleashed in 1991.

Post-liberalisation, India has learnt crucial lessons such as allowing managers to take decisions, encouraging entrepreneurship and making everyone think about transformation.

But, nation-building cannot be achieved without a change in mindset and ensuring that growth must be all-inclusive. Advising the policy-makers and corporate houses to evolve long-term growth strategies, Mr Bhargava said no changes can be long lasting without inculcating a transparent attitude and value-based policies.

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