India needs better biz environ: Hinduja

Hinduja Group chairman S P Hinduja on Friday called for transparent policies, simplified procedures, and better business environment in India to attract investments from overseas Indians and foreigners.

Addressing the global CEO meet in Kochi, Hinduja said, "Investors, whether foreigners, non-resident Indians or resident Indians, always look for opportunity and proper environment and viability for investments."

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"When 15 million overseas Indians have been able to make it big and are being recognised for their skill and talent, why one billion Indians in the country have failed to achieve similar level of economic growth?" he asked.

Hinduja said the developed world was looking for viable business opportunities and large sums of money were flowing to countries with strong economic potential. If the government provides the conducive investment climate, "we can replicate the success in our country", he said.

He said India must clean up bureaucracy and put in place a transparent electoral funding policy to ensure that there was no misuse of power for narrow political aims.

Hinduja also submitted his blueprint for India's economic transformation to President A P J Abdul Kalam and spiritual leader Mata Amritanandamayi.

He said India needed to develop a whole new concept of development and implement that without delays; that way the President's vision of transforming India into a developed country by 2020 could be achieved by 2010.