TEAM HERALD
PANJIM: Global Chairman of World Zarathushti Chamber of Commerce Minoo Shroff, a leading economist, attributed the economic slowdown in India to a combination of weak governance, bad politics and a string of corruption scandals over the last few years.
He was delivering a lecture at the meeting between World Zarathushti Chamber of Commerce and Goa Chamber of Commerce where an MOU was signed. The two chambers agreed to extend co-operation, regular information exchange and frequent interaction between their members. WZCC has some of India’s best known companies as its members.
In his lecture “India’s Achievement till date and a look into the Future,” at GCCI, Shroff pointed out that the economic growth in India has slowed down considerably in the last three years, growing at about 5 percent last year after recording an average of nearly 8 percent over the past several years. He argued that though for the past several years, both India and China were matching each other in growth rates, now while Chinese economy continues to grow at a brisk pace, the Indian economy has lagged behind.
He blamed the policy paralysis and lack of proper regulations that has plagued the last few years of the UPA for the decline of the Indian economy and pointed out how a similar policy paralysis and lack of governance during the previous Congress regime in Goa had resulted in Supreme Court banning all mining activities and bringing the state economy to a grinding halt.
Earlier while welcoming the delegation of WZCC, Narayan Bandekar, President of GCCI recounted the excellent relationship that Goans shared with the Parsis in Mumbai and assured to provide a platform for Parsis in Goa to come together and address any issues of concern.
The others present on the occasion were Adi Siganporia, Chairman of Mumbai Chapter of WZCC, Ms Behroze Daruwala, WZCC Global Corporate Secretary, Sandip Bhandare and Manoj Caculo, Vice Presidents of GCCI, Ralph De Souza, Secretary and R S Kamat, Director General of GCCI.
