If one week is anything to go by, then the Modi-led BJP government is making all the right moves, believes Kiran Mazumdar Shaw, chairman, Biocon .
Speaking to CNBC-TV18, Shaw says the Centre now seems to have the political will to revive the economy and believes that the leaders will now get the bureaucrats to perform exceedingly well.
The Modi government has scrapped the EGoM and GOMs and has asked ministers and bureaucrats to work for six days every week. The prime minister wants to change the work culture of bureaucrats and ministers.
Below is the edited transcript of the interview.
Q: It's too premature, it's just been a week for the Modi government in office but some would say that he has gotten off to a good bold start where it's the way that they have now decided to bring together allied ministries, club ministries like power and coal together, steel and mines together, corporate affairs and finance ministry together – gotten off to a good start. How would you assess the one week performance?
A: I certainly think the signals are very positive and its music to my ears to hear Nirmala Sitharaman talk about self-certification and third party certification. I really believe that we have to get out of this approval Raj. I think we need rationalisation and simplification of regulations in a big way. This is what is slowing down industrial growth, investment and whatever we want to address in terms of kick starting growth and the economy.
Q: We thought people will think we are crazy that we are discussing boiler inspectors and boiler norms on India Business Hour but the fact of the matter is that these are the sort of the things that make it hard for business to operate in the country and this is the sort of practical stuff that needs to be over and done with and get it out of the way. So, in that sense forget big ticket legislative action, it's this kind of stuff that needs to get moving as soon as possible?
A: Look at our pharmaceutical industry, we are regulated by five ministries that are not working in a synchronous way. This is so complex and so time consuming and tedious that we are the slowest working industry sector in the country or in the world maybe. The approval timelines that the Indian pharmaceutical industry has to go through is multi-fold compared to any other part of the world. This is what the reality is and there are simple fixes for these kind of issues.
Q: In that context are you disappointed because if you look at the way that these ministries have been restructured there is actually been no restructuring of ministries. You basically appointed one person to head allied ministries. So, you have got Piyush Goyal looking after power and coal but in our understanding at this point in time there is actually been no change in bureaucratic protocol or coordination as far as the operational and the ground level is concerned. Does that disappoint you?
A: I think that if you have political will and if you have ministerial will to really bring about change which I am sure many of them have, I know people like Piyush Goyal, Nirmala Sitharaman and many others have this particular can do attitude. They will get their bureaucrats to perform in an effective way. Modi has shown the way in the way he administered Gujarat; I am sure he is going to do the same as a Prime Minister. So, I am sure it can be done.
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