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Rahul Bajaj against mindless globalisation
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Mr Rahul Bajaj (right), Chairman, Bajaj Auto Ltd, and Mr Anil Shastri, Chairman, LBSIM, at the Lal Bhadur Shastri memorial lecture in the Capital on Tuesday. — Ramesh Sharma
New Delhi
,
Jan. 10
WHILE globalisation holds an opportunity for the country, mindless globalisation is not in the interest of our country, according to Mr Rahul Bajaj, Chairman, Bajaj Auto Ltd.
"The situation of our agriculture, industry and services sector, and within them of sub-sectors, varies tremendously and we have to modulate our engagement sectorally," he said.
Mr Bajaj was speaking at the 13th Lal Bahadur Shastri Memorial Lecture organised on Tuesday.
He said that, in his view, both economic and political reforms were necessary to take the country forward. Suggesting some reforms on the political front, Mr Bajaj said the Government should provide for State funding of elections "to reduce the evil of elections being funded by black money''.
He also said that necessary changes in the law and if necessary, in Constitution, should be made to ensure that the Central and State elections take place simultaneously only once in five years.
On economic reforms, Mr Bajaj said labour reforms were necessary, arguing that in an uncertain and changing world, businesses needed to be flexible. "Our inflexible labour laws in the organised sector have not only resulted in disincentive to create relatively well paying jobs but have also created lower paying jobs in the unorganised sector," he said.
But for the nation to grow, he said the progress should not be limited to economic development. "We should also move forward in the fields of education, health, culture, sports and science," he said.
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