Trust on private sector is way forward for India's growth: Bhargava

Maruti Suzuki India Chairman R.C. Bhargava said the private sector has its own faults and is not without blemishes

The way forward for India on the road to growth and development is to rely on private sector, Maruti Suzuki India Chairman R.C. Bhargava said on Saturday.

He credited the current government at the Centre for trusting the private sector and encouraging industry to be at the forefront of economic and industrial growth and job creation.

"After all these 60-65 years of going through government and public sector, I have no doubt in my mind that the way forward for India is to rely on the private sector," he told reporters.

Mr. Bhargava was responding to a query on how he saw the road ahead for the industry, specially the auto industry, in India in the next 10-20 years, in the backdrop of Maruti Suzuki completing 40 years of successful operations.

He, however, said the private sector has its own faults and is not without blemishes.

"I'm not for a moment saying that private sector is perfect. If you balance the negatives and the positives of both private sector and public sector, the balance comes up far more in favour of the private sector than the public sector," Mr. Bhargava asserted.

The public sector, by its constitutional restrictions, legal structure and the way the controls and supervision happen, hasn't been efficient, he added.