Speaking to CNBC-TV18's Ronojoy Banerjee in Stockholm in Sweden home to the company's headquarters chairman of SAAB India said that while it wants to invest and transfer technology it would not do so will government allows at least 49 percent cap.
If that would be the only way for us to function in India we would leave.
Lars-Olof Lindgren
Chairman
SAAB India
Swedish defence giant SAAB has ruled out heavy investments in India until the government allows a higher FDI cap from the current 26 percent.
Speaking to CNBC-TV18's Ronojoy Banerjee in Stockholm in Sweden home to the company's headquarters chairman of SAAB India said that while it wants to invest and transfer technology it would not do so will government allows at least 49 percent cap.
"The Indian government puts a lot of efforts into creating processes to make it difficult for corruption. However, you can never 100 percent exclude these risks as we have seen in this case
In our policy it is 100 percent zero tolerance or 100 percent clean. The only reason if we would leave India would be that we realize we cannot do business without corruption. The jury is still out. However I believe we can stay in India. I think we can do business without corruption but it is a very serious mater you are bringing up," Lars-Olof Lindgren told the channel.
He also said that on back of the cancellation of Augusta Westland deal SAAB is worried about corruption issues and said the Swedish giant would exit India if it feels the only way to do business is through corruption.
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