Investors expect strong economic growth
Prime Minister Narendra Modi, with his government’s second term backed by a strong mandate, is expected to put India confidently on the world stage both economically and politically as it progresses on with pro-business reforms and the massive infrastructure development.
“Modi has returned to power with a stronger mandate from his electorate. This should enable him to implement more vigorously policies that would create more jobs and address the many problems faced by the agriculture sector, said Ambassador Gopinath Pillai, Chairman, Institute of South Asian Studies (ISAS) at the National University of Singapore, and Ambassador-at-Large at Singapore’s Foreign Affairs Ministry.
“India can also move confidently onto the world stage both economically and politically,” he said of the big win by the Prime Minister of India.
With this great endorsement, India will shine bright globally, with faster and better economic growth locally,” said Dr Charles Chow, a Singapore-based business consultant with wide-ranging interests in India.
“Indeed, a great celebration for the Indian diaspora as well as friends and fans of India, too!” Dr Chow said of the pro-business reforms government led by Modi.
“It is heartening to see Prime Minister Narendra Modi secure a landslide win from the 2019 General Election,” Dr T. Chandroo, Chairman of the Singapore Indian Chamber of Commerce and Industry (SICCI), said of the Indian leader’s return to government with a stronger mandate.
Dr Chandroo sees more and more Small and medium enterprises from Singapore venturing into the Indian market.
“This will definitely give us more confidence in undertaking business ventures,” he said. “SICCI looks forward to continue working and building stronger businesses and trade with India.”
Dr Chandroo also expects Modi’s pro-reform government to improve on “ease of doing business in India” as it has done so in the first five years of his term,
This win will allow Prime Minister Modi to continue efforts to build infrastructure, reduce poverty and take up many hard to handle issues which only a very popular leader can do, according to Girija Pande, Chairman of Apex Avlon, a global investment consultancy with interests in India.
“I see a renewed importance of Foreign Direct Investment (FDI) in manufacturing and creating employment which India desperately need for its youths.
“Foreign investors are delighted at this stability and we will see increase foreign investments playing a major role in India’s growth story,” said Pande.
Singapore is well positioned with its close economic partnership with India and many Singaporean companies should look to build their presence in Modi’s new India, he said.
Modi has delivered “India First” and implemented programs for the poor with speed and military precision, something that India has not seen in the past few decades, added Atul Temurnikar, Co-Founder and Chairman of Global Schools Foundation, an Indian origin education institution.
The citizens of India want a decision maker who can frame policies, imbibing governance best practices from around the world and bring direct benefits to the people,” he said, calling for an end to the endemic corruption from the Indian system.
“The aspirational India sees in him a noncorrupt leader who can deliver in five years what others may take 20-25 years.
“Citizens want safe and secure India and a better future for their children,” said Temurnikar whose foundation runs schools across South East Asia, India and Japan. fiinews.com
The Prime Minister, Shri Narendra Modi meeting the officers and staff of the Prime Minister’s Office, at South Block, New Delhi on May 24, 2019.
