In a rare interview withGlobal Co-Chairman, Hinduja Group andChairman, Hinduja Group of Companies (India) discuss Indo-British trade ties and what more India can do to attract FDI and NRIs. Edited excerptsWe have to see what is the expertise from Britain. They are very good in making, designing, structuring, management skills and the GST is a good example. From where did it come? I remember experts from different ministries used to go there to see how the VAT was done. What are the things we have to protect?Similarly, Britain can offer quite a lot. Now that they are out from EU, they will no choice but to enhance their relationship with India and the growth can come from everywhere. Although they may not be able to invest money, British companies can find viable projects, they can structure. They have taken much interest in smart cities . They will take interest in Make in India on the defence side, on digitisation, on all the programmes what Mr Modi has initiated. They are good at it. So that sort of sector will keep on growing.He has totally changed the face of India in the international market and we feel proud abroad when we say we are Indians and Mr Modi today can be accepted as the best prime minister for the world and he is doing an excellent job. Only my suggestion will be that his team should also move in the same pace and faster than what Mr Modi wants because his vision is very good for the country. He has new ideas. He has new thoughts. He has gone internationally to all the countries. He has built up excellent relationships . So the rest is up to them and to the private sector.I think we have to give some time to see how things will change.They should remove uncertainties like GST. Now that it has been cleared, they should put it into action faster. When I manufacture certain vehicles with the engines of BS4, if they are not brought in timely, the manufacturer, the investor gets into trouble.Proactive actions have to be taken that if this does not happen, then what is the next step?And also they should form shell companies, special purpose vehicle companies for all the projects where investment from abroad is needed. So when the investor comes, all the clearances are available. They sell the company and then the foreign investor will have no grievance.That they do not have to run around for various clearances.Being an NRI , I would also say that NRIs have been the natural resources of India and even in most difficult days have stood by. Even now, $70 billion of foreign investment is coming, they should do something for them, at least treat their investment at par with the Indians.Certain guidelines have to be given to the institutions. A simple guideline that they can take a haircut till the project ACE is presented in a viable form. Why should any new investor put in money unless the project is viable? Now once they do this, automatically the stressed projects, the investments will start. I can tell you all this from my own experiences. We started, we wanted to go in, the institutions are concerned because if they do it they will say oh! why did you give so much haircut and then there is an enquiry.ET Now: Because internationally sometimes you get 60% haircut?GP Hinduja: Yes. All the policies that have been made have to get implemented and uncertainties removed. You are in a country that at the moment is the best destination in the world to invest in because the the US economy has slowed with 1% GDP growth. If you go to UK, there are uncertainties with Brexit . EU is doing very badly.If you come further into Asia, you can see how in China , the GDP growth is coming down. The Chinese started expanding early and now they can see the impact of it. At the moment India offers the best investment opportunity. So everyone is looking towards India. Unfortunately we have not been able to gear up ourselves to attract the foreign direct investments because when people come here they expect the same western system but though Mr Modi has been a visionary with lots of energy, it takes time to change the culture, the systems and the procedures of last 60 years.No from Re 1 it has gone to Rs 100...It is cyclical now. Our younger generation are professionals. They want to have a business plan, they want to see the viability, they make all these studies. Whenever the management wants the board to clear anything, they present a very rosy picture and it becomes very difficult not to invest. Ashok Leyland had a good growth but the management was not focussed, they went into diversifications. When the third generation came, the decision was taken that we should be only in commercial vehicles. If you want to do something else, it has to be a separate unit but we should not.I will put it in a different way. When those decisions were taken by the board along with the management, they thought that was right decision but the planets were wrong, it went into the wrong spin and finally when the right time came they took the right decision to exit. The same company went from Rs 14-15 to Rs 110.