Corruption, Terrorism, Maoism major problems for business: Experts

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SME Times News Bureau | 28 Mar, 2015
Besides corruption, Terrorism and Maoism, remain a big worry for investors in India, experts said on Friday.

Overall business improves and helps the country move forward fast when risks, of all types, are taken care of, they added while addressing a seminar here on "New Age Risks-2015".

Rajiv Arora of the National Intelligence Grid (Natgrid), an attached office of the ministry of home affairs, said terrorism and maoism have been serious threats to business interests in India.

"Terrorism, which had gone down to serial number 10 in terms of threat perception, has once again emerged as one of the top threats to business in India," he said.

Expressing her views on the subject, Manjari Jaruhar, a retired IPS officer and chairperson, Ficci committee on the private security industry, said perceived risks deter investors from coming forward and investing in certain businesses. If a country wants business to improve, it has to remove or at least minimise the risks.

"In this age (of new technologies) there are new risks to any business," she said, cautioning against the leakage of important information of a business house or a company on the Internet.

She also lauded private companies for handling their data well in comparison to government departments.

Corruption, bribery, strikes, terrorism, insurgency, fear of litigation and road accidents were identified as major risks to business in India.

Gurpawan Singh, vice president-Asia, Pinkerton, said any investor or a business company would come to you only after accessing how safe his/it investment would be and how much return would he/it get.

In order to attract good business, "we identify risks and remove them," Singh said, adding that a stable government and fast policy decisions also help in improving the business of a country.

Speaking on the occasion, Bhaskar Rao, ADGP, computer wing, Karnataka police, stressed on the problem of increasing road accidents in India.

He said hundreds of people die in accidents daily in the country and a huge quantity of goods is lost due to the mishaps.

"Lives and products get hurt in road accidents," he said, appealing to the authorities to improve the situation.