Before answering that question let us take a look at the fact that despite phenomenal economic growth, India is still the home of every third poverty-stricken person in the world. As things stand, this gulf between poor and others is set to increase unless the overall economy grows at a faster pace. History shows that raapid development has been a reality in autocratic states more than in democratic ones. So, as long as corporate leaders act dictatorial within their own organization,on purely professional issues and have no major or direct role in socio-political aspects of society, they can be seen as necessary evil. Of course, the government should ensure that the interests and basic rights of the employees and customers are safe-guarded and the value generated contribute to the society as a whole.
P.S: As I have said before, this is an area I am not knowledgeable in and I may be wrong. But do leave a comment to correct me :)