Governor of RBI, Dr. Raghuram Rajan while addressing a gathering of corporate India made the following observation: “India does not need to go out of the way to get foreign investors. If we make it easier for young companies to do business in India, it will create a transparent and quick system and will do the same for foreign investors.”
This might come as an embarrassment to CM of Andhra Pradesh, Chandrababu Naidu who is precisely indulging in this.
Chandrababu Naidu is making repeated trips to overseas and asking the developed world to play a major role in the development of the new State.
While there is no harm in seeking the expertise of these countries, making them the primary partners sends out an extremely wrong signal to our intellectual pool and youth.
One would not be blamed if basing on Naidu’s strategy; he or she comes to the conclusion that domestic firms are not qualified to play a prominent role in the development of our states or nations.
Many huge organizations in AP might have been looking forward to play a key role in the new state. Unfortunately, their dream might remain just that: a dream!
In fact, Rajan was also seriously against populist schemes like ‘loan waiver’ by Naidu and KCR which he said was a severe drain on the banking system and economy of the country.
