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Scams will impact foreign investments: CII
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SME Times News Bureau | 25 Aug, 2012
The various scams hogging media headlines will impact foreign
investments in India, Confederation of Indian Industry (CII) president
Adi Godrej said Friday.
And for the sentiment to improve, the government's decision-making process should be transparent, he said.
"The
investor sentiment would improve if the decision making process is
transparent. The government decision making should be transparent," said
Godrej at a news conference here, responding to a question on the
impact of scams on foreign investment in the country.
He also
said corruption would go down if the government's decision-making is
made transparent, adding that the CII has suggested to the government
that the case-to-case permissions should not be there. According
to Godrej, the negative sentiments created about India like the changes
in tax laws, labour violence, and power grid failure are also impacting
investments.
On CII stand on recognising labour unions by corporations, Godrej said: "We are not against legal labour union."
Asked
about the disruption in Parliament, Godrej said: "Political grand
standing is unfortunate. Parliament should be allowed to function."
He said political parties should join hands together on national interests, economic issues so that the economy grows.
To
another question on whether CII would try to convince various states to
pass a law making it compulsory for the companies to recognise worker
unions, B. Santhanam, deputy chairman of CII Southern Region, said: "We
don't have a view on such a law."
"We are telling the companies
to solve the labour issues at the unit level and not allow them to
escalate. Further the next generation of labour leaders does not
understand the process of negotiation and industrial relations,"
Santhanam added.
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