Crediting Prime Minister Narendra Modi for doing an “excellent job”, Hinduja brothers have said that PM Modi has new ideas and thoughts. “We feel proud abroad when we say that we are Indians and Mr Modi today can be accepted as the best Prime Minister for the world, and he is doing excellent work,” the Hinduja brothers told ET Now. “The only suggestion would be that his team would also move in the same pace and faster than what Mr Modi wants, because his vision is very good for the country,” they said. “He (PM Modi) has new ideas, he has new thoughts, he has gone internationally to all the countries, he has built up excellent relationships, so the rest is now for the private sector. We have to give some time to see how things will change,” they added.
Talking about the scenario of stressed assets, they said, “There have to be some guidelines that have to be given to the institutions, that they can take a hair cut, till the project is presented in a viable form. Any new investor who is coming, unless the project is viable, why will he put money? Once they do this, automatically the investments will start”.
“We need to apply the policies that have been formulated and uncertainties need to be removed. You are in a country, which is the best investment destination in the world at the moment. The situation in US economy is slow, stagnant, 1% GDP growth. If you go to UK, there are uncertainties over Brexit, EU is very bad. If we come further into Asia, you can see China, how their GDP growth is going down,” they said, expressing confidence in the Indian economy’s potential to attract investment.
— ET NOW (@ETNOWlive) October 26, 2016
Earlier this month, Prem Watsa the CEO and founder of Canada-based Fairfax Financial Holdings had been asll praises for PM Modi, even expressing hope that the latter is re-elected. “I have said this in our annual report and we are very bullish on India. This is because we consider Mr Modi to be the Lee Kuan Yew of India,” Watsa, who is often called the Warren Buffett of Canada, had said. “Mr Modi is a very hard working man. He has eliminated corruption at the top and I think he is going to do a wonderful wonderful job over the years. I am hoping he will be re-elected in a few years and re-elected again and India will be transformed during that time,” he had said.
The fact that international and Indian investors are expressing optimism about India and lauding the PM Modi’s efforts to push India as an investment destination will certainly be good news for the government and the economy as a whole.