Speed up pace of ease of doing business: Kiran Mazumdar Shaw

Highlighting the need for the government to quickly remove bottlenecks to improve ease of doing business, Biocon CMD Kiran Mazumdar-Shaw on Wednesday said 'impatience is seeping in' which could lead to confidence issues while wooing investors to India.

Speaking at the Economist India Summit, she said there is a lot going on behind the scenes to improve ease of doing business in India and the government is seriously looking at removing roadblocks to woo investors.

"... but there is impatience seeping in. If you are going to delay, then there will be confidence issues," Shaw said.

"If you want growth capital, you need to address issues of stressed assets."

Highlighting hurdles faced by domestic firms, Shaw said: "Two big challenges Indian companies face in terms of investing or expanding their ventures of their own companies, is largely because of stressed balance sheets, which is one big challenge the India companies have, and cost of capital is another big serious challenge."

Shaw also shared concerns in industry about 'flip-flop' in policies, stating there is a need for far more 'decisiveness' in policy and the government to articulate its policies with firmness.

"What is required is a long-term policy," she added.

Highlighting the healthcare sector as "the most successful Make-in-India story", she said that without the Indian pharmaceutical sector, the global healthcare sector would be at great risk.

"India needs to invest in its healthcare sector," Shaw said.