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India needs a rebooting: Nestle CEO

Source: PTI
November 07, 2012 17:10 IST
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India needs a rebooting and the country must give "value to common sense" to tackle issues like slowdown of growth, according to CEO of Swiss FMCG giant Nestle, Paul Bulcke.

Speaking at the World Economic Forum on India, he said so much of regulations and complexities coming in the way of entrepreneurship.

"Certainly! As the mood is not very positive," Bulcke said when asked "does India need rebooting?" during a session in which he was one of the panelists.

Explaining his views, Bulcke said: "So much regulations and complexities kill entrepreneurial spirit. It looks to me that India is suffering from its own gravity."

So rich is India's past and history, but the world is moving very, very fast, he said, adding "gravity of size" is "an opportunity but also a liability".

He said the negatives like slowdown of

growth are becoming obvious although the country still has the potential.

Offering the solution, he said: "What is the potential? What can be driven? We need to discuss that...Do the obvious, give value to common sense. We need to do what can be done."

When asked if he is happy with the Nestle's performance in India, he said: "I am an optimist. I am happy with the potential of India...What helps is the growth of the country. We are here for long term and I do not see any impediment in investing here."

On whether corruption issues that have hit India have affected the company, Bulcke said: "We are at many places and India is not the only country having that problem."

Speaking out against opposition to FDI, he said: "These things affect but we are here for so many years already. This year we are 100 years in India. It should be opening up little more and that would help all players and induce more growth."

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