After the rapid slide in India’s rupee this year, the message from the country’s corporate titans to the government is clear: shape up and fix the problems or more companies will expand their business abroad and deprive the economy of investment.
Many, such as entrepreneur Kiran Mazumdar-Shaw, are already doing just that.
Ranked by Forbes as one of the world’s most powerful women, she is investing about $200 million (127 million pounds) in a manufacturing plant in Malaysia for her biotechnology firm Biocon to offset unreliable power and water supplies back home. It already makes more than half its sales overseas.
“If India had better infrastructure and more availability of power I may not have gone abroad,” said Shaw, who followed in her father’s footsteps with a master’s degree in brewing in Australia before setting up Biocon in her garage in Bangalore 35 years ago.
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