Hannover: A top Indian industrialist says the Indian government has to convince the world that it is serious about upholding its secular credentials if the country wants to attract foreign investment.
It is especially important for the government to make clear that “we are a secular nation… we are a tolerant nation,” asserted Sanjay Kirloskar, chairperson and managing director of Kirloskar Brothers Ltd, the flagship and holding company of the US$3.5 Billion Kirloskar Group.
The 58-year-old industrialist is currently in Germany when Indian Prime Minister Narendra Modi is pushing for foreign investment on his maiden trip to Europe, ndtv.com reported on Monday.
Referring to a series of attacks on churches and other Christian buildings over the last few months in India, Kirloskar said, “Most investors in foreign countries are Christians.”
Kirloskar’s words are the first words of caution from a top Indian industrialist about the church attacks at home. He said that “a slight concern” was visible among foreign investors; he pointed to a protest by a small group demanding “protect India’s minorities” outside the massive fair in Hannover that was inaugurated by the PM and has drawn top leaders of India Incorporated.
Before arriving in Germany, Modi addressing UNESCO in France, said that his government is committed to defending the rights and liberties of all Indians. In February, addressing a conference organized by Christian groups in Delhi, Modi had said, “My government will not allow any group belonging to majority or minority to incite hatred against others.”
Sanjay Kirloskar has led Kirloskar Brothers Ltd as its Chairman & Managing Director as well as other Kirloskar Group companies since 1983. Kirloskar Brothers acquired SPP Pumps (UK) in 2002 and then Aban Construction, one of India’s leading construction companies in 2006, followed by The Kolhapur Steels limited in 2007 and Braybar Pumps Ltd (South Africa) in 2010.
For the past five years Kirloskar Brothers has shown an average Return on Net Worth of 32 percent although it was 54.83 percent from 2004-2005.
Kirloskar Brothers Ltd is also one of the first pump companies to have an all women operated and managed manufacturing plant at Coimbatore, the second largest metropolitan city of the southern Indian state of Tamil Nadu. Today Kirloskar Brothers is India’s largest Pump and Valve manufacturer and one of the World’s largest pump manufacturer’s by market capitalization.
Sanjay Kirloskar is the son of Chandrakant Kirloskar and the grandson of Shantanurao Laxmanrao Kirloskar. He is a graduate from the Illinois Institute of Technology, Chicago.