RC Bhargava, 85, chairman of Maruti Suzuki Ltd, started his career as an IAS officer in 1956 and worked for Bharat Heavy Electricals Limited before joining Maruti Suzuki in 1981. The veteran of the Indian automotive sector speaks to Forbes India about his book Getting Competitive, the need for tax and policy reforms in the manufacturing sector, and the future of the automobile sector in India.
Q You have discussed both Nehruvian and Narendra Modi’s policies in your book. What are the key initiatives that stand out for you from both regimes?
The biggest change that took place when Narendra Modi came to power was his emphasis on reviving manufacturing. Not only did they say this is the most important thing for India, but he also started making a substantial number of reforms to make it easier to do business in India and reduce costs.
And now I go back more than 60 years. I don’t remember any other government that made specific attempts to make manufacturing more competitive and make it easier to do business in India. Everybody talked about it. But talk is one thing, and doing something about it is something else.
And that is the biggest difference: That Modi is actually trying to do something. It’s another matter that for various reasons, the policies have not been what you would expect them to be. But at least you have a person who is committed. It also depends on what kind of advice he gets, what kind of system he has inherited, and what kind of mindsets people have.
Q In your book, you have mentioned: “Poverty cannot be eradicated unless wealth is created in the economy.” How can this be done?
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