Hinduja bullish on India growth story

ROME: Dismissing concerns of India facing a governance deficit, Prakash P Hinduja, Chairman, Advisory Board of Hinduja Bank, Switzerland, today said that the Indian economy continues to enjoy confidence of global investors.

On the issue of "governance deficit" raised by some noted Indian industry leaders and eminent citizens, Hinduja said, "It is not going to affect India. It (Indian economy) will continue to grow".

He is here as member of a FICCI delegation, led by Commerce and Industry Minister Anand Sharma.

Hinduja said investors were comparing India with China. "There is a great future in India. People across the world are comparing India with China and they see more advantage in India because of large English-speaking people," he said.

Hinduja who came here after attending the World Economic Forum (WEF) meeting at Davos, said, "investors feel comfortable in India."

Many US companies, which have set up hubs in Bangalore have had first-hand experience.

Well-known industrialists, bankers and eminent citizens had recently raised concern over the "governance deficit" in New Delhi after several scams including 2G telecom spectrum had hit the UPA Government.

However, Hinduja, who is a senior member of the USD 25 billion UK-based group, remained bullish on the India story.

The Indian economy is expected to expand by about 8.5-8.9 per cent in the current fiscal.