Before the actual WEF meet 2016, HPPPL head Ratul Puri mentioned how India will be the centre of the stage during that time.
His actual words were, “With political stability returning to the country, India must carry on with the efforts towards building foreign investor confidence. The global developments have placed India in an advantageous position and the Indian government must remain focused and stay true to its vision, thereby capturing the opportunities.”
The after meet response of the Government and other business leaders supports Ratul Puri’s optimism and hopes regarding the expected growth of the Country. Even the Finance Minister of the Union Government, Arun Jaitley agrees by saying, “The reform process would continue unhindered and without any impact of political opposition.” He further added, “The ‘ease of doing business’ remains a continuing process and more will be done on that front.”
With current Indian Government’s reform agenda, business leaders are also focusing on the need to speed up the process of development and seize every opportunity that knocks on the door of current global economic scenario.
The India also got a pat on the back from IMF chief, Christine Lagarde, who said, “India has emerged as one of the fastest growing economies, unlike other BRICS members.” She is also optimistic about China’s revival in coming times, just like British Chancellor George Osborne.
In the meantime, Jaitley and other business leaders acknowledge the need to evolve more growth engines in Indian economy. Chief of ICICI Bank, Chanda Kochhar on the other hand, feels that mix of growth contributors need to be evolved all along. She also said, “Foremost, India is in a better position today compared with even a year ago and in a stronger position even compared with other emerging market economies,” which clearly reflects her optimism regarding the Nation’s growth.
The Director General of CII, Chandrajit Banerjee recalls the last year’s WEF meet when world leaders expressed their hopes from India and the level of their expectations increased this year. Banerjee said, “India can grow at over 8% in favourable conditions and if the rural economy gets a boost too. We can certainly further re-energise the economy with proposed reforms like GST and further ease of doing business.”
With so many people agreeing with the first thought of Ratul Puri, that day is not far when India outshines against all the odds and proves its mettle to the world, just twice the time it’s going right now.