When the dismal GDP data for the fourth quarter and the full financial year were released, everybody – corporate heads, economists and industry chambers – had an opinion to air. But curiously, the press release sent in the evening by the Indian Chambers of Commerce and Industry (ICCI) carried comments by Secretary General R P Swami parts of which were an exact copy of the Federation of Indian Chambers of Commerce and Industry’s (Ficci’s) Secretary General Rajiv Kumar. Here are the two comments:
ICCI: The Gross Capital Formation registered a growth of 5.3% in FY12 compared to the 11.1% last year. “This shows a grave crisis of investors confidence. We may be in the danger of slipping in to a 1991 like crisis. Therefore urgent and bold steps are immediately needed to prevent the economy from descending in to a full blown crisis. This must be averted at all costs”, said Mr. R. P. Swami.
FICCI: The Gross Capital Formation registered a growth of 5.3% in FY12 compared to the 11.1% last year. “This shows a grave crisis of investors confidence. We may be in the danger of slipping in to a 1991 like crisis. Therefore urgent and bold steps are immediately needed to prevent the economy from descending in to a full blown crisis. This must be averted at all costs”, said Dr. Kumar.
Who copied whom?