During pressing times such as the current one, it is spirituality that keeps GMR Group Chairman G M Rao going. While investors and analysts have reacted negatively to the news that GMR lost its airport project in the Maldives, Rao says it has given him humility and a good experience which will help him in future international projects.
While sharing an account of his journey from a trader to a successful entrepreneur with around 1,600 delegates, including emerging entrepreneurs, private equity and venture capital investors at TiECON 2012 in Chennai, Rao said that he had faced many adversities, but learnt from them and adapted to the change.
“It (the Maldivian issue) gives a lot of experience and we will participate wherever there is a transparent bidding. This project was made a success story by International Finance Corporation ( IFC).” Rao said that this is one of the positive attitudes that helped the group which started with Rs 3 lakh to grow to a Rs 65,000-crore group.
The Maldivian government had recently decided to terminate GMR’s airport project. The Maldivian Airport Company Limited ( MACL), upon the Maldivian government's instructions, terminated the contract on November 27. The project was given to GMR in 2010 during the previous regime of former president Mohamed Nasheed.
05/12/12 T E Narasimhan/Business Standard
