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Budget 2020: Biocon boss wants a 'globally competitive' India; Uday Kotak, Harsh Mariwala remain optimistic

India Inc bosses want India to attract global investors.

ET Online|
Last Updated: Jan 21, 2020, 05.44 PM IST
(L-R) Uday Kotak, Kiran Mazumdar-Shaw and Harsh Mariwala are hopeful India will shine globally.​
(L-R) Uday Kotak, Kiran Mazumdar-Shaw and Harsh Mariwala are hopeful India will shine globally.
NEW DELHI: With Union Budget on February 1, the industry sentiments are running high. As Finance Minister Nirmala Sitharaman gets ready to present her second Budget, Kiran Mazumdar-Shaw, Chairperson and Managing Director of Biocon, has a few suggestions.

In a series of tweets, the 66-year-old biotech tycoon urged Sitharaman to make India investment-friendly. She said that decriminalisation of businesses and economic legislation would send a positive signal to the current investment climate.

Her another post read, "Sectoral profitability should be used to arrive at sector specific incentives that make us globally competitive."

On Sunday, Mazumdar-Shaw was conferred with Australia's highest civilian honour in Bengaluru by the Australian High Commissioner. Commenting to one of the congratulatory messages, she said that 'gender equality and equity are essential for economic and social progress.

Quoting a tweet on Monday, Harsh Mariwala, founder and Chairman of Marico, expressed his optimism for the country as India ranked 54th in the Bloomberg's Innovation Index.

The businessman said that he had dreamt of building a home-grown FMCG brand years ago that could be on par with a global conglomerate. While India has come a long way since then, he believes we, as a nation, have the 'potential to rise much higher on such lists'.

Meanwhile, Uday Kotak, founder and CEO of Kotak Mahindra Bank, quoted a a news story titled 'China’s nuclear industry and high-speed trains are world class'. Appreciating China's development in various fields, the 60-year-old billionaire called the neighbouring nation an 'ecosystem of the future', and India must awaken too.

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The Countdown Begins

17 Jan, 2020
It's that time of the year when all eyes are on the Finance Minister. Dalal Street, India Inc, tax-paying individuals, consumers, traders - almost everyone is looking at Nirmala Sitharaman with hope. This Budget, that comes in the wake of a slowdown, and muted consumer spending, is the first one that's being presented by the Narendra Modi government after storming back to power in the Lok Sabha elections last year. As the countdown begins, here's a look at what India Inc has on their wishlist from Ms Sitharaman this time.

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