Wednesday, August 24, 2011

Corruption in India has become worse: Ratan Tata

Top industrialists have expressed concern over the impact that worsening corruption has on their businesses and said there is no short-cut to becoming a billion-dollar company other than doing things the right way. “I think corruption has become worse and if you choose not to participate in this, you leave behind a fair amount of business,” Tata Sons Chairman Mr Ratan Tata said.

IMO: Unforunately Tata is right about the high level of corruption and his own firm rightly has a reputation for honesty and generosity. But a large international firm does have to work with locals. And he had real problems at Singur and Nandigram with the CPI and did leave quite a large area of bad land which should have been cleared up. He should have to pay for the clean up. Let us hope that Tata Steel Minerals Canada Limited does not have its reputation needlessly destroyed by the lack of understanding vis-a-vis CPI.  People in Canada for the most part seem prepared to overlook Singur and Nandigram - so far - but it would be wise if both Canada and Tata kept their dealings cleaner. And in the UK, Tata's pal Mandelson is apparently now considering purchasing an 8 Million pound house - having risen rapidly from being broke, and that occurs 'in one way' ,as statstics show - and styles himself as some kind of royalty. Mandelson is not a good Labor supporter. It all causes worry about apparent US and business support for Hazare. If we are not careful, Lokpal really could take us in the wrong direction, but hopefully the organisers will ensure that it does not. The UK once had a good balance between state and private enterprises and it used to be a far better model than China. Years of Tory and Labor greed and corruption have removed that chance - but it can be put back. Proper banking laws, duly implemented, could help. Now (honest) appropriate Chinese advisors could help the UK, I suspect. But frankly the UK now reminds one of Gadaffi's Libya in some ways, right down to the dodgy Muslims in Bradford and the slightly relatively cleaner situation in London, all thanks to Ken. What the UK needs is its own version of Mamata Banerjee, but this vile cesspit of corruption is not likely to get it. The UK citizens may raise a level of protests like Gadaffi's Libya - but with much more violence - if the Tories do not pull up their socks and at least try to clean up the Augean stables of the City of London.

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