The Hindu Business Line : Ratan Tata concern over economic disparities

Mumbai, Aug. 15 Stressing the need to build India into a land of equal opportunity for all, the Tata Group Chairman, Mr Ratan Tata, said: “One must recognise that great disparity still exists and that a large portion of the population survives at or below subsistence levels while a smaller, more fortunate segment enjoys wealth and well-being”.

Expressing concern over economic disparity in the population, Mr Tata said: “The future potential is enormous but the country’s destiny is in our hands. The time has come to move from small increments to bold, large initiatives.

“The time has come to stretch the envelope and set goals, which were earlier not seen to be possible. The time has come for performance to be measured and for the government allocated funds to reach the people for whom they were intended.

“The famines of India’s early years have been converted to food surpluses, literacy levels have risen, entrepreneurship in big, small and medium enterprises has flourished, and throughout this period the country has enjoyed free and fair elections, which have thrown out governments and ushered in new governments,” he said.

Now it’s India time

Greeting the nation on its 60th Independence Day, he said clearly India’s time has come. India has transformed itself in 60 years of its independence from a controlled economy to a nation with a vibrant, open market economy based on robust growth, he said and added the country is now universally recognized as a nation on the move and takes its place amongst the successful economies in the region.

“I’m proud of my country. But we need to unite to make a unified India, free of communalism and casteism.

“We can be a truly great nation if we set our sights high and deliver to the people the fruits of continued growth, prosperity and equal opportunity,” he said.

The Tata Group is one of India’s oldest, largest and most respected business conglomerates in the country.

Its businesses are spread over seven sectors with over 96 companies employing over 2,46,000 people across six continents.