Angad Paul for more transparency in the way biz done in India

Angad Paul for more transparency in the way biz done in India New Delhi: Pitching for better governance in India, NRI industrialist Angad Paul Thursday called for more honesty and transparency in the way business is done here.

Paul, Chief Executive of the London-based Caparo Group, which has set up several auto ancillaries and steel product plants in India while it has an annual turnover of about Rs 2,000 crore, said there is a need for better functioning in the system.

Paul was given the 'Youth Icon' award at the silver jubilee celebrations of the NRI Institute here.

Speaking at the function, he said: "We need to have a little bit more of the sense of justice and fairness in this country. Nobody should encourage bribery. We got to make a stand."

"The people, the voters, have to demand better governance. They can't keep on compromising. Because at the end of the day, if I give you a licence to steal, chances are that you will steal," Paul added.

The industrialist said things should be done in a more transparent manner in India.

"Indians abroad have done things in a very honest manner. We have the power in India amongst the people to show their distaste of the way things are being done," he said.

Citing the instance of his own company, he said Caparo has not paid a single penny as bribe to anybody in India for doing business.

"Despite that, we did our job. We were a bit lucky because we got into the automotive equipment business and lots of people in India were buying cars at that time. I just followed the market."

Paul hinted that Caparo has huge plans in place to take the business forward. He, however, did not divulge details.

"I think Rs 2,000 crore is something like the blueprint which I like to do here," he said.

Founded in 1989, NRI Institute is an NGO.

PTI