India Today conclave 2017: Be Indian and Buy Indian, says HDFC Chairman Deepak Parekh

 BT Online   New Delhi     Print Edition: March 26, 2017
Be Indian and Buy Indian, says HDFC Chairman Deepak Parekh

HDFC Chairman Deepak Parekh on Friday said that we have to protect our Indian industries and called for 'Be Indian and Buy Indian'. Parekh was speaking at the India Today Conclave 2017 in Mumbai.

He also batted for the Goods and Service Tax or GST. Speaking on the single biggest tax reform, Parekh said that once the initial confusion around GST is dealt with, economists have projected that the GDP will go up.

Parekh termed demonetisation a big bang reform. He said that cracking down on people holding black money is the right thing to do and such people ought to be penalised.  "If you are paying your taxes, why should you be worried," Parekh said.

However, he also feared of Inspector Raj that could come back post-demonetization. "We hope that the states shape up and improve on ease of doing business," he further said.

He also said that the low investment in private area is a problem. "China factor is one of the factors why our private investment is slow," Parekh said.


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