The Narendra Modi-led government has been commended for it various policy initiatives by some of the major business leaders in the country.
However, they warned that it will take time to achieve the growth targets envisioned by the Prime Minister.
“A number of legislative changes have been made which we have never heard of or seen before. The government has undertaken a number of policy initiatives in the last few months. The government is actually laying the foundation for what will come in the future,” Tata Group chairman Cyrus Mistry reportedly said at the Hannover Fair in Germany.
He said Indians should not get caught up in the short term “because we want growth which is sustainable”.
“There is still a long way to go. There is a need for change in mindset of corporates, bureaucracy and government and we are going through that phase. We are very positive about the future, but it will take time,” he said.
Siemens CEO Joe Kaeser said there has been a lot of change in the sentiment. “The direction is clear but now we need to see how to support it. It will take time and people should not get overly excited.”
Bharat Forge chairman and MD Baba Kalyani said the country will see the results happening in the next 6-18 months. “We believe in it (Make in India) as it is largely logical.”
Nigel Bell, Readers Bureau, Fellow
Edited by Jesus Chan
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