Indian Businessmen Raging Anger against UPA

Bangalore:   India’s current economic condition is the failure of the UPA government, was pointed out by many economists or analysts. This downfall is due to the delay in making reforms by the ruling government. The situation is also affecting the businesses and so the country’s well known business leaders have shown their concerns. Economic Times came up with the list of critical statements made by the business leaders against the UPA.

KM Birla

Kumar Mangalam Birla is the Chairman of the Aditya Birla Group which is India’s third largest business house. Under his leadership the company has expanded into telecom, software, BPO and other areas. When he took over the reins in 1995 there was a huge turnover of $2 billion and overseas operations accounted for a very small part of the business. His strong leadership has spiraled to $33 billion and expanded to more than 40 countries. He is also the chancellor of the Birla Institute of Technology and Science. In a letter to the Idea Cellular shareholders on June 13 saying, “The proposed policy changes towards spectrum auctioning, pricing and reframing... bode ill for the (telecom) sector... The biggest overhang is the regulatory environment.”