Revealed: Why Ratan Tata feels threatened in India?

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Ratan Tata
New Delhi, Dec 10: One of the richest business tycoons of India Ratan Tata seems scared about the future of the country. Expressing his concern, the outgoing chairman of the Tata group said, "Never before has India had that kind of image."

During an interview with PTI, Mr Tata expressed his grief while speaking about India's current image which has been tarnished by several scams and corruption cases.

Tata patriarch did not conceal his rage over 2G spectrum scam while saying, "You get FIPB approval to invest in India and to own a company, you get a licence to operate and then three years later, the same government... tells you that your licences are illegal and that you have lost everything."

"This leads to a great deal of uncertainty. Never before has India had that kind of image. So that really rattled me because then anything can happen," added Mr Tata.

However, Mr Tata still keeps his faith on Prime Minister Manmohan Singh and his government. Despite scam tainted image, UPA government succeeded to win the belief of the industrialist who said, "What they did recently to FDI and other things, I think, will reinstate some degree of confidence."

Mr Tata also was quoted as saying, "There will have to be efforts made to reassure people that laws that are in place, the legislation that is in place, is here to stay. If it is changed, it has to be changed in some rational way of announcing a change which is prospective and not retrospective."

Speaking about the PM, Mr Tata said, "My view is that the PM had to move. If he got attacked from all sides... you don't do anything after that. If you want him to do something and you attack him from all sides, then in all likelihood he would not do anything."

OneIndia News
(With PTI inputs)

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