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'Whatever the policy, it should be open, transparent and nondiscretional'

I don't want to comment. No, I have no comments on that issue.

As a part of the Bombay Club you have asked for checks on MNCs so that Indian companies can compete better.

First of all, there is no such thing as the Bombay Club. Secondly, I am not part of it. So I don't know what you are referring to.

Do you think MNCs should renew their approach towards their Indian partners?

I don't have comments on the CII controversy.

I don't think CII has made any statement. I think Tarun Das (the CII secretary general who drafted the paper on MNCs) himself had an interview with Economic Times. I think the press has blown it far beyond proportion.

According to you there is no such controversy?

Of course, there is a controversy. Obviously when newspapers are commenting one way or the other there is a controversy. There has been a controversy on this issue for some time. But I don't want to comment on it because my belief is that all policies should be open and clear. I don't believe there should be any restriction.

People say the Foreign Investment Promotion Board should have a transparent and uniform approach. What do you think the FIPB approach should be?

Its approach to multinational investment very often is case by case and varies from time to time. I don't think it should be that way. I think whatever the policy, it should be enunciated in advance and should not differentiate from case to case. Whatever the policy, it should be open, transparent and nondiscretional.

Do you think Indian CEOs continue to be so insular? Are they frightened of competition?

I don't think there is anything like a typical Indian CEO. There are all sorts. Some are hesitant, some are not. Some are very competitive, some are not. Just like you cannot stereotype an Indian politician or an Indian bureaucrat, I don't think you can stereotype an Indian CEO. I think that is a mistake.

There are all sorts. Some have concerns about liberalisation, but most, I think, are welcoming. Most are very comfortable with it. Most I think are doing an excellent job for their companies. You notice that despite some fears expressed here and there, mainly by the media, most Indian companies are doing very well after liberalisation.

Has the opening of the market and influx of MNCs brought in a change in corporate leadership skills? What qualities in your opinion should an Indian CEO have in this era of liberalisation? How many Indian CEOs, in your opinion, have adapted to the altered ambience?

The CEOs should be more global in their approach. With a lot of change going on they must be able to lead change. The country is changing so the companies need to change. The CEOs's approach should be in terms of being able to lead this change successfully. Some CEOs are doing it exceedingly well. Many are doing it reasonably well and some are not doing it well.

Adi Godrej continued ,