London : Bullish on India’s growth prospects and reform agenda, ace banker Deepak Parekh has said the country is showing to the world that it is truly open for business while a major achievement of the current government has been to weed out large-scale corruption at the Centre.
Lauding the steps taken by the government for putting in place an e-tendering process for all procurements, Parekh said this transparent system with no human intervention has meant “that the days of inter-changing of envelopes at the time of bidding have finally been put to rest”.
“One hopes that this government keeps up its unblemished record, but more importantly this now needs to percolate down to state levels as well,” the eminent industry leader said. Delivering a lecture here at the LSE Students’ Union India Forum over the weekend, Parekh said India’s macroeconomic parameters have never been more robust and it remains amongst the fastest growing major economies. “One can quibble in decimal points on how much demonetisation could shave off GDP growth, but the bottom line is that India will still achieve a growth rate in the range of 6.6-7 per cent in the current financial year,” he said.
