Mukesh, Anil & us

They used to run governments, or so it was said in loud whispers, but they are, as is clearly visible, running after governments now. Estimating their fortune used to be a matter of arcane debate. But estimates have been placed in the public domain now. That they have disputes, often bitter, used to worry financial analysts concerned over feuds trumping business rationality. Now, the disputatious siblings are perhaps a little bit worried themselves about the fallout of politics explicitly recognising and debating their fight. So as Anil Ambani reportedly counsels Amar Singh to lower the pitch of advocacy and Mukesh Ambani meets the prime minister, let us recognise that once again Indian politics has produced a counterintuitive positive result — the Ambanis have been firmly rendered part of the system, influential still, but hard for anyone to say anymore that they are the system. Everyone, including shareholders who may have more information on the men who run their companies, will surely be better off.

Indeed, and taking this point forward and applying it to the broader question of government-corporate interface, wouldn’t it be better if windows are opened on all those who have high stakes in how government policy is formulated? Commentators appalled at Amar Singh’s style should ask themselves whether, unwittingly, the loquacious Samajwadi Party general secretary has done us all a favour. We have got a taste now for watching how a government responds to fairly open demands from or on behalf of a corporate blue-chip. Lobbying goes on all the time, in part because the state retains so much discretionary power, but even a much-reformed state will offer scope for lobbying. Why not encourage an ethos that discourages behind-the-doors lobbying? Let us try to institutionalise information availability on which bigshot is keen on getting what.

So let corporates hire professional lobbyists, let these people be declared as such; by getting them registered, let such lobbyists, who obviously then can’t double up as MPs because no political party will want a formally declared lobbyist in its ranks, be allowed to freely try and persuade ministers and let ministers explain or defend their decisions. And let people, who will have so much more information, judge politicians, corporates and lobbyists.