Action against 2-3 cos not to hit investor confidence: Puri

Posted By: Pti
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Mumbai, Feb 10 (PTI) Good governance will never deterinvestors, and confidence in the Indian economic growth storyremains high despite a Government crackdown on a handful ofcorporates for alleged violation of environmental norms, atop banker said today.

"I have not come across any concerns expressed byinvestors in my meetings with them. Good governance andactions taken transparently will only encourage investors, notdeter them, from coming to India," HDFC Bank Managing DirectorAditya Puri told PTI here.

The top private sector bank''s chief was responding toa query whether Government action against mega-projects suchas Posco''s in Orissa and Lavasa in Maharashtra would have adeleterious effect on investor confidence.

"Some action against two-or-three projects will notaffect investor confidence," Puri said, adding there was aneed for all business proposals to be approved transparentlyand speedily.

"If the projects are good enough, they will beapproved. What is needed is clear and transparent policies anddecisions to be taken without fear or favour."

The Government, has, in the last few months, come downstrongly on big corporates such as Vedanta, Posco and Lavasa,on the ground these entities had violated environmental norms.

It had ordered stoppage of work at Lavasa, a hill station nearPune, while conditional clearance has been given to Posco''smega steel project in Orissa.

"India presents a huge opportunity - it is growing atover 8 per cent and is poised for the same level of growthover the next few years. If there is good governance, then itwill only encourage investors to come in," Puri said.

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