AAP's leftist leanings fail to dissuade India Inc; donations pour in for Arvind Kejriwal

NEW DELHI | MUMBAI | BANGALORE: The Aam Aadmi Party (AAP) has often been criticised for swerving too much to the left of the political divide, but that hasn't stopped it from winning the support of some members of the business community who are prepared to put their money where their mouths are.

The party, struggling to shed the antibusiness label that it got stuck with after taking a stand against foreign direct investment in retail, has a list of big business donors that includes Chairman and Managing Director of BioconBSE -0.38 % Kiran Mazumdar-Shaw, former Eicher Group chairman Vikram Lal, Bajaj AutoBSE 0.88 % Managing Director Rajiv Bajaj, Transasia Biomedicals MD Suresh H Vazirani and former InfosysBSE -0.32 % board members TV Mohandas Pai and V Balakrishnan. Most have contributed between Rs 20 lakh and Rs 50 lakh to AAP (see table) and figure among the top 100 donors to the party.

So what is it about AAP that seems to have struck a chord with them even as party leader Arvind Kejriwal is often accused of making pronouncements that seem anti-capital and anti-rich?

"It's not about Arvind (Kejriwal), it's what I believe in — that corruption is a 1,000-headed monster that's the source of all that is amiss with our governance. Thus, when Arvind speaks holistically about corruption, it intrinsically resonates with me," Bajaj told ET. 

Although AAP's Maharashtra unit confirmed to ET that Bajaj had recently made a donation, it was unwilling to disclose the amount. Bajaj neither confirmed nor denied this. "Who we support financially is insignificant. That I publicly support Arvind (Kejriwal) is far more meaningful, focus on that," said the Bajaj Auto MD, who has been effusive in his praise for the party's founder recently.

Mazumdar-Shaw is more open about her financial contribution to the party — she gave 20 lakh last month.

"There is a need for this kind of political influence and like all entrepreneurs we need to bring about some change in the political system. You need some intervention and I hope more people promote this change. Because AAP has brought about the single most important change: How can a citizen of this country get justice? Only Aam Aadmi Party has been able to bring this change. And it should be supported," she said.

Such support from business is relatively new. AAP leaders had approached many 'high net worth individuals' for financial help at the time of the Delhi elections last year, but many did not come forward fearing persecution by political parties in power, said AAP sources.

Although donations picked up after its stunning electoral debut in Delhi, Kejriwal's dharna while serving as chief minister and his subsequent resignation distanced the party from fence-sitters in the corporate world.

"But, once again, that's changing. Our leaders have been actively engaging with businessmen to dispel myths about AAP and this has worked. Some of the biggest donations made in the past two months are from entrepreneurs and companies," said a party member, who did not wish to be identified. AAP's last biggest donation came from Natasha Lal, wife of Eicher Group head Siddhartha Lal, who gave Rs 50 lakh last week. AAP leader Pankaj Gupta, who is in charge of party finances, was not reachable for comment despite repeated attempts.

Although the party has collected almost Rs 30 crore for the Lok Sabha elections, that's still short of the Rs 100 crore target it had set for itself. AAP hopes this newfound support from big business will encourage others from the community to do the same. Vazirani said he's doing his bit on this front.

"I strongly urge all entrepreneurs to come forth and support AAP with their mind, heart and resources. This is our only hope. From my personal experiences as an industrialist who has worked in India, the US, Europe and Russia, I can tell you that businesses can thrive only when our country thrives. And India can thrive only when it gets freed from the shackles of corruption and communalism that are holding it back from becoming a great nation," said Vazirani, who has donated Rs 30 lakh to the party.