But he commented that the government needs to provide the infrastructure that will enable centres of excellence to flourish.
Muhtar A. Kent, President and Chief Operating Officer, The Coca-Cola Company, USA, agreed that the challenge is principally with infrastructure. He noted that there is great potential for development in the sectors of retail, healthcare and tourism.
Nandan M. Nilekani, Executive Co-Chairman, Infosys Technologies, India, and Member of the Foundation Board of the World Economic Forum, said India has excellent human capital resources but that problems persist in the areas of infrastructure, urbanization and the development of India as a single market.
Underlining the consensus among participants on the subject of infrastructure, Roy asked if India should rely solely on the government to provide the lead in improving infrastructure.
Rohleder and Nilekani said the private sector can and must play a role in improving the country's infrastructure. The latter added that centres of excellence serve as visible signs of progress and important role models for a country.
Kent said that attitudes at the government level are shifting and that central government in India is now taking a positive stance on the development of infrastructure. Rohleder remarked that India needs to look closely at how public policy is impacting foreign investment.
The session Chair asked if part of the problem facing India is that all its bureaucrats are socialists or the children of socialists. Nilekani remarked that this situation has changed when all the bureaucrats' children started joining investment banks.
In a round-up at the end of the session, Brutto stressed the need for the free movement of goods between India's different states.
Rohleder said the next 10 to 20 years would see a new chapter being written in India as progress is made in the areas of public policy, infrastructure and capital investment.
Ruiz agreed there are huge opportunities in India. Kent believed India will find itself at a crossroads over the next decade with regard to investment and infrastructure.
Nilekani said the world will see more centres of excellence coming up in different sectors of the Indian economy in the future.
Confederation of Indian Industry
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