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Vedanta chief Anil Agarwal feels PM Modi has clear vision to take India forward; no plan to buy Air India

Updated : October 13, 2019 12:27 PM IST

Mining and metal baron Anil Agarwal said Prime Minister Narendra Modi has a very clear vision to take India forward and also made it clear that he has no plans to buy loss-laden national carrier Air India.

In an exclusive interview to CNBC-TV18's Latha Venkatesh and Nigel D'Souza, chairman of Vedanta Resources said that country is not in a crossroad, but we are in a straight road.

"The presence of Narendra Modi has felt in the world. This is a very important country and we are very proud. Everyone has his own way of looking and want to contribute in his own way," he said.

"We are going to have $1 trillion of import and whatever import India is going to do, we can produce everything in our country whether it is oil, coal, gold, copper or uranium,” Agarwal said.

Talking on mining policy, he said, "At the moment, the policy is revenue-minded. It has to come out of it and it has to be production-minded. In line with what the world does, India should start trusting entrepreneurs and it is the most important thing. The whole world goes on self-certification. Even we pay the income tax, sales tax on a self-certification. Why do we need so much of preclearance? We are law-abiding people. Clearance is not required."

Further, Agarwal said the government should not hold more than 50 percent in public sector companies.

"It is very important that we should look at the kind of taxes we have on salaried people, it has to come down. We hear that general income tax will also be reduced, the whole thing they are reducing. Where the money will come? The money will come from natural resources, money will come when you have 25 national banks and then you have 50 public sector companies, these are the phenomenal companies and if you do one-by-one, it will take 10 years. You have to come out with one idea," he said.
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