Misdirected and wrongly implemented socio-economic policies dragged India far behind many countries like China and South Korea, Bajaj Auto Ltd. chairman Rahul Bajaj said here on Wednesday.
Chairing the convocation ceremony at a Ghaziabad institute, Bajaj said: "India has been the only country which restricted the production capacity of private industries like Bajaj in the early 1970s."
"Let us see what will happen in future. At least the new government is saying that industries need to grow," he said.
On competition from other companies, he said: "Quality has to be improved and cost has to be brought down to create terror among the competitors. A team cannot achieve the goal unless individuals contribute to it."
