Wednesday night’s attack has brought terrorism yet again to the economic capital of India. But this time the targets chosen were in the heart of the economic establishment – the Taj and Oberoi being the traditional preserves of businessmen, international visitors, financiers and bankers .
While business has remained in a cocoon so far, looking at acts of terrorism as remote and unconnected to it, with this one night the age of innocence and ignorance is over. It is wake-up time for Indian business as the threat of terrorism has become a clear and present danger. This is an unambiguous attack on the Indian economy and all its participants.
I wrote some weeks ago elsewhere that if you have any doubts about the impact of terrorism on the economy and investment, you just need to take a look at Pakistan, Afghanistan, Nepal, etc — all economies ravaged by terrorism.
The debate about terrorism has been so far covered by the media as something purely political – albeit with short breaks to condole the deaths of the many innocent victims. To add to this, there is a certain liberal class that continues to create justifications for terrorism. Let’s be very clear, terrorism is an assault on our country and its people. There can be zero justification or tolerance for terrorism or violence. Business (and I mean all stakeholders of business — investors, shareholders, employees) needs to join this debate on terrorism and make strong demands on the political leadership of India.
Here’s what the business and economic community should ask for, for itself and for the country as a whole:
Strong political leadership and resolve to win the fight against terror
There is panic and fear gripping many Indians today. Caused by terrorism, this is now spilling over into the economy and adding to the already severe crisis of confidence that exists because of the economic slowdown and rapid demand compression playing out currently. Unfortunately, there is a strong perception of an ineffective national security leadership in our country. This is important because in times of crisis like this, people and businesses tend to naturally get nervous and they look to the leadership for comfort and confidence. That is not forthcoming.
Only the political leadership can establish this confidence, if it communicates and radiates a strong and unambiguous resolve to win this war and defeat terrorism. This is the starting point. The objective is not to be a hard state or soft state, but a secure state. The frequent and embarrassing ‘pass-the-buck-from-the-centre-to-the-state’ tragic-comedy being played out in Delhi needs to stop. This is a war against India and not against one state or the other. This is the obligation of any elected government to its people and it’s time we demanded this and if governments cannot deliver this constitutionally guaranteed right to security, they should give the job to someone who can. Simple!
Strengthen the institutions/agencies that fight terror
The institutions that are the principal tools and on the frontline in the war against terror, i.e the intelligence agencies, the law enforcement and investigation agencies and the civil defence agencies, need to have enhanced capacity, motivation, morale and tools and technologies. And off course a complete de-politicisation of our police and other institutions, and a focus on bringing talented, committed and high-integrity officers back into the leadership of these institutions. In addition, an institutional framework that allows inter-state agency co-ordination and significant investments in technology, including the creation of common information platforms by integrating intelligence, criminal and immigration databases with a national ID system.
Focus on stronger anti-terror laws and fast track prosecution outside the normal criminal justice system
It is obvious even to the uneducated that there is a need for a stronger set of laws and a faster-track prosecution system. The argument against this has been that such laws will be misused. This cannot be a reason to stall an essential tool in the war against terror. Fighting terrorism without stronger laws, will be fighting terrorism ill-equipped. Rather a solution to this fear of abuse must be created. May be judicial oversight through an audit body consisting of eminent citizens and judges that periodically reviews and audits ‘fairly’ the use of the law and the cases filed under it.
Businessmen are accused of rarely standing up and saying the right thing. It’s time they did this. Let’s not trot out platitudes and empty rhetoric. We have what millions of citizens don’t have: the power to make our politicians listen. Let’s put that to good use – to force some changes for the cause of a safe and secure India.
