Tata lashes out at Indian biz climate

 Ratan Tata said that a lack of government support was preventing Indian industry from competing with China and lashed out at a “venal” business environment.

Ahead of his retirement as chairman this month, Ratan Tata criticised what he called a lack of coherence in government policy and said the Mumbai- based group’s ethical standards had cost it business.

Tata told a newspaper that his group planned to look to other emerging markets for expansion and accused Prime Minister Manmohan Singh of forcing it to look abroad by failing to address complaints about bureaucracy.

The Centre is pushing reform measures to open several  economic sectors for foreign players. But Tata, whose global sales total USD 100.9 billion, said investors were being deterred from India and complained that it still took the best part of a decade to gain clearance for major projects.

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