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Captains of industry and the national interest

Please help make the Manifesto better, or accept it, and propagate it!
"the lengthy report submitted > by the Prime Minister's Council on Trade and
Industry which comprises such > luminaries as Nusli Wadia, Mukesh Ambani,
Rahul Bajaj, GP Goenka, Ratan Tata > to name a few. (Deccan Chronicle calls
it the Mumbai Club) The group has > submitted reports containing
reccomendations on areas such as Revival of > Traditional Industries, Health
Care Reforms, Avoiding Pitfalls of > Globalisation and Administrative and
Financial Reforms to name only a few."

In the last several months I have given two talks, both at the IIM Calcutta,
critiquing this development.    Economic policy is not supposed to be
determined by business interests or industrial lobbies; it is supposed to be
by representative politics in Parliament.    There is no reason I can see
for such captains of industry to have such close access to the Prime
Minister or the Finance Minister.    There is every reason to believe these
captains of industry are familiar with their industries' interests and no
reason to believe they have any special knowledge of the national interest.
Where, for example, is agriculture?   Or where is the ordinary consumer?
This has not been a healthy development at all, especially where Indian
industry is as uncompetitive as it is.

Subroto Roy.

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