London: Despite the outmoded labour laws and infrastructure shortcomings, Indian companies have faced global competition and fared well, leading Indian industrialist Rahul Bajaj has said.

Many foreign companies came to India, some went back, some closed down, some of them have been successful, but none have troubled the Indian industry, Bajaj, former president of Confederation of Indian Industry (CII) said while participating in a BBC Hindi special programme Aapki Baat BBC Ke Saath broadcast last night.

Asked specifically why Indian companies were unable to compete at the global level and what should be done for improvement, Bajaj, chairman and managing director of Bajaj Auto, said, "See, for that, a change in labour laws and a solid infrastructure are required."

"But on the other hand, look at the other side of the coin. Many foreign companies came to India, some went back, some closed down, some of them have been successful, but none have troubled the Indian industry. For example, look at automobile sector - companies such as Honda, Suzuki, Yamaha, Vespa - all of them came to India. Some of them are doing well, but the Indian Bajaj has performed better than all of them."

"Similarly, look at Tatas in cars - their product is better than many foreign cars. The Indian companies have not fared badly in competition. Where we have done badly is that these foreign companies can directly import from places such as China and other places. These have had an adverse impact on small scale industry of India."