Aditya Birla Group Chairman Kumar Mangalam Birla, on Monday, complained of the country’s inconsistency and lack of transparency in business policies.
“We are in 36 countries around the world. We haven’t seen such uncertainty and lack of transparency in policy anywhere,” Mr. Birla, head of the $40-billion Group, told Bloomberg TV India. “Country risk for India just now is pretty elevated and chances are that for deployment of capital, you would look to see if there is an asset overseas rather than in India,” he said. Mr. Birla’s comments came as a surprise because he usually keeps a low profile and is less aggressive in his articulation.