"Another attack may not be far away," said a businessman in Bangalore on condition of anonymity.

In India, businessmen and executives usually hesitate to criticize the government. It is one of the largest buyers of many products including IT. Indian businesses often need to lobby the government on a variety of issues from tax holidays to duty rate cuts, to changes in government policies.

Ratan Tata, chairman of Tata Sons, on Thursday however criticized the handling of the terrorist attack by the authorities.

"We should have learnt to get a crisis infrastructure in place that could snap to attention as soon as something happens," he told reporters in Mumbai. "We still don't have that in place."

Taj Mahal Palace & Tower hotel, one of the targets of the terrorists, is a business of the Tata group. India's largest outsourcer, Tata Consultancy Services, is also part of the group.