Review land policy
With reference to your cover story India Inc. stuck
(BT, September 21), the need of the hour is an overhaul of the Land Acquisition Act, which is horribly out of sync with the country’s modern needs. There is no doubt that India’s metamorphosis into an industrial power will require flexible land acquisition policies, but if we fail to carry the affected people along the road to progress, the nation will witness many more Nandigrams and Singurs.
Roshan Kumar Agrawal, through e-mail
Hitting a political hurdle
Your cover story India Inc. stuck
(BT, September 21), makes it clear how self-serving politicians are playing political footsie in Singur. Never mind that in the process, the economic progress and wellbeing of the country goes for a toss. Could it have been possible for us to enjoy the benefits of a project like the Delhi Metro if it had been subjected to the same kind of political backlash and stonewalling that is now being meted out to the Nano project in Singur? Like Delhi Metro, Tata’s small car project is also in the national and public interest. Not only will it help position India as a global hub for small cars, the project also promises to offer direct and indirect employment to thousands in and around Singur, including farmers whose lands have been acquired.
Mahesh Kapasi, through e-mailRemove the bottlenecks
Your cover story India Inc. stuck
revealed the roadblocks in the path of industrialisation. The Singur imbroglio is symbolic of the larger issues that need to be addressed before industrialisation can take off in a big way. Even as the West Bengal government attempts to pacify opposition to the Nano project, no real headway appears in sight. While the row over transfer of land still continues to rock the state, does anybody care about what’s on the minds of those farmers in Singur who sold their land in anticipation of a better future?
B. Rajasekaran, through e-mailPPP is the key
This is regarding your cover story on Best cities for business
(BT, September 7). Finance Minister P. Chidambaram had said that India will need at least $500 billion (Rs 21.5 lakh crore) over the next five years on infrastructure alone. The truth is that India will need much more than $500 billion to provide world-class infrastructure and, therefore, the Public Private Partnership (PPP) is an efficient way to finance infrastructure projects in the country. The new Hyderabad Airport, built by the GMR Group, is a successful example of PPP. Using this approach, private players can invest more resources effectively and efficiently. Another major draw for PPPs is the fact that chances of corruption is minimal in such projects. Let’s hope that the PPP model becomes popular, as it will help bring greater investments from outside into the infrastructure sector.
R.K. Baranwal, through e-mailStaying ahead of the times
Your in-depth article “Are the dark clouds for the real?
” (BT, September 21) reminds me of the erstwhile Industrial Credit and Investment Corporation of India, prior to the era of globalisation. Once the process of liberalisation, initiated in 1992, rendered its model outdated, K.V. Kamath, the man at the helm, quickly perceived the challenges ahead and swiftly corporatised it into ICICI. The reverse merger of the 30-year-old parent with its three-year-old banking arm succeeded with operational integration of various subsidiaries into a onestop financial services entity. As a result, ICICI Bank nosed ahead of the curve. Indeed, the success of any organisation lies in being able to sense the environment and proactively change to suit the changing business dynamics. It should, therefore, surprise nobody that ICICI Bank is able to identify new growth engines to shift gears and remain competitive.
Srinivasan Umashankar, through e-mailHow to contact Business Today
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