Doing business in India as just business seems to have become something inferior and politics and business has become two sides of same coin although they simply are not even the same coin. In the recent times, we have seen so many unpleasant incidents taking place in business world of India. There have been so many revelations about the relationships between businesses and the politics in one way or other.
There was 2 G scam sometimes back this year that had huge negative impact on the business environment in which people like Mr. Ratan Tata and Reliance ADAG became party. Then Mr. Jagan from Andhra Pradesh was said to have made money because his father’s political influences and now it is time for Bellary’s Reddy brothers.
In all the above mentioned cases there had been huge involvement of political persons as well as businesses. These people have used money and politics as tools to promote their business interests in this country. This sends some very bad impression on business community, international investors and sentiments of the markets.
Land, labour, capital and entrepreneur are the four factors of production for any economy (though today technology can be considered to be fifth factor). India as a country has labour and land in huge abundance but when it comes to capital and entrepreneurs India lags behind in this world. Even capital can be managed in India but when it comes to entrepreneurship, there is hardly any answer. India already does not have entrepreneurship friendly policies and environment to promote trade and business for new entrepreneurs and these incidents would make things even more difficult.
Entrepreneurship is the only way for rapid and inclusive growth and development of India. With the help of entrepreneurs only, India as a nation can be able to provide jobs to huge workforce that India is going to have in future. We boast about the large numbers of working professionals in this country, but it is going to backfire if not managed properly by providing right opportunities to work and engage. It’s obvious that the current developments in context of business and politics relationships, the motivation and inspiration of entrepreneurs are bound to fall.
Entrepreneurs want free flow of business and don’t want to run around the political bosses or bureaucrats. But these developments reinforce the sentiments that only those people can succeed in businesses who have huge political support and capital. The increasing corrupt and unethical practices by India Inc. will harm the growth and development story on which India is riding.