Holding poor implementation of policies responsible for the current state of economy, new President of Federation of Indian Chambers of Commerce and Industry (FICCI) Sidharth Birla, on Monday, said a business-friendly environment was absent in the country.
“We do not have a business-friendly environment. We have so many regulations,” Mr. Birla, who took over as the head of the industry body last week, told PTI.
He said there was no problem with the policy, but there had been ‘paralysis after policy’, resulting in poor implementation of the policies.
“What actually happened is that the policy is followed by paralysis. Policy ke badd kuch nai hua (nothing happened after announcement of several policies),” he said.
The business urgently needed decision and implementation, he said, adding that “80 per cent of the concerns of business can be addressed by good implementation and decision.’’
Citing the example of the FDI policy in multi-brand retail, the President said that its implementation “is left on States and the policy started getting confused.”
“I am not saying that it (30 per cent mandatory local sourcing by global retailers) is a bad intention, but it gets confused. So when it gets confused, it is paralysis after policy,” he added.