Infra sector may witness reforms: Kumar Mangalam Birla
Mumbai: The infrastructure sector is likely to witness reforms, Aditya Birla Group Chairman Kumar Mangalam Birla said on Tuesday.
"I think there will be some sort of reforms in the infrastructure sector," Birla said on the sidelines of global awards by the Priyadarshini Academy when asked what other sectors are likely to witness reforms after the finance minister indications that the reform process will continue.
Talking about Foreign Direct Investment (FDI) in the multi-brand retail sector, Birla said that it's a positive move.
"However, I think it will be a while, as it will take a while to find partners. It will take a while before FDI in retail starts to flow. It's a step in the right direction and all the problems cannot be resolved in one day. But I am sure that if the reform process continues, investors will be back," he said.
When asked if the company will participate in 2G auctions, he said, "I think it is all about creating value. I wouldn't say that we will participate or we wouldn't participate in the auction. It's not cast in stone. We will look at value to shareholders and then decide if we will be participating in the auction or not".
However, the tariffs may increase after the 2G auctions, he added.
Birla was on Tuesday conferred with the Harish Mahindra Memorial Global Award for outstanding contributions to globalisation of Indian industry by the Priyadarshini Academy.