India Can Compete With China As Supplier To World: Lord Paul

LONDON: Pitching for removal of barriers that come in the way of setting up businesses in India, NRI industrialist Lord Swraj Paul has said the country can compete with China as 'suppliers of the world'. Stating that non-resident investment was key to China's growth, he also urged the Indian government to give due importance to NRIs looking to invest in India, rather than classifying their capital inflows as foreign investments.

He said NRIs bringing in a certain amount of investment can be offered Indian citizenship by getting the necessary laws passed by Parliament, as a majority government has come into power after 30 years. Paul, Chairman of the UK-based diversified conglomerate Caparo Group, said that Prime Minister Narendra Modi's 'Make in India' campaign has huge potential, if the government removes barriers that come in way of businesses

"The initiative is very good. I think we need the machinery to see it through. If the Prime Minister can make sure that some of the problems which come in the way of setting up industries are removed, India has tremendous potential," Paul told in an interview here. The USD 2 billion Caparao group is present across 40 countries with a 10,000-strong workforce, while India accounts for over 15 per cent of its global business. "I also believe that India should be competing, in a friendly way, with China as suppliers of the world," he said, while adding that his son and Caparo CEO Angad Paul has recently talked about the group expanding its footprint in India and for utilising it as an export base.
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