'India should be a preferred R

Bangalore, Mar 10 (UNI) Biotech major Biocon India Chairperson and Managing Director Kiran Mazumdar-Shaw has called upon India to position itself as a preferred outsourcing destination for Research and Development.

''There are compelling reasons for people to invest in our country. But for this, everyone should speak the growth story. The Union Government has started being growth-focused, but it is not translating down to the State levels,'' she said at a seminar on 'India: a global story-Can We Become The Preferred Investment Destination?', organised jointly by CNBC-TV18, the leading business medium in the country, and Allianz Insurance here yesterday.

Rajesh Exports Chairman Rajesh Mehta, in his address, said the biggest restricting factor for growth of Indian industry was the cumbersome procedure involved in starting a business. ''If there is a significant change in this current scenario, then there will be assured growth. The world needs India and so we should move from complacency and understand these needs,'' he added.

UNI MSP GD GM1555