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If we give responsibility to govt, accountability also lies with them: Shobana Kamineni, executive vice chairperson, Apollo Hospitals

Sabharwal felt that India had seized the policy window and pushed some ambitious reforms in the last 14 months.

Speaking about the tariffs that have been imposed by the Government of India in an ongoing economic reform effort and their impact on export competitiveness, Naushad Forbes, Co-chairman, Forbes Marshall, said that the increase in protection over the last four years is a step in reverse. “It ends up protecting the Indian industry, which means we end up actually being less competitive,” said Forbes.

He was on a panel that discussed ‘India’s Business Growth: Can Indian Companies Compete Globally’. Moderated by P Vaidyanathan Iyer, Executive Editor (National Affairs), The Indian Express, it included Sidharth Nath Singh, Cabinet Minister of Micro, Small and Medium Enterprises (MSME), export promotion, textile, Khadi, village industries, sericulture, Government of Uttar Pradesh; Shobana Kamineni, Executive Vice Chairperson, Apollo Hospitals; Manish Sabharwal, Chairman and Co-founder, Teamlease Services.

The panelists discussed the idea of Indian industry integrating with and competing in the rest of the world, the reforms, and the impact of the pandemic.

Sabharwal felt that India had seized the policy window and pushed some ambitious reforms in the last 14 months. Forbes agreed but added that he was concerned about the implementation, in particular the privatisation programme, protectionist economy and “how the union government can reach out to the state to make the federal system more effective” in terms of farm and labour reforms.

Singh stated that the agriculture reforms have been accepted by all the states with the BJP at the helm. “Agriculture is a state subject, so anything which is passed by the central government should be adopted as an ordinance or through a legislature and in UP we are already working with the laws,” he said.

Speaking about the effect of the pandemic on the healthcare sector and infrastructure, Kamineni appreciated the Indian industry for its resourcefulness in these difficult times. As for 50 per cent of the vaccines available to the private sector for a price, she said it’s a step in the positive direction because the vaccine makers wouldn’t want to export if they got a decent price in their own country. Her only worry was competition with the government to procure the vaccines. Singh said the government’s two-pronged approach should be welcomed. “We need to allow those in the competitive private market,” he said.

Kamineni also spoke about the need for good experts. “Advisors work better and then the government can formulate laws, reforms. If we are giving the responsibility to the government, the accountability also lies with them,” she said.

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If we give responsibility to govt, accountability also lies with them: Shobana Kamineni, executive vice chairperson, Apollo HospitalsFinancial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

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