It was a historic moment for India. After a gap of 30 years, India got a stable majority government, National Democratic Alliance (NDA) won more than 50% of seats. For the last three decades we had coalition governments. Irrespective of which party had a major stake, when it’s coalition, it’s difficult to reach agreement on major decisions, as Government is always at mercy of small coalition partners.
Now, that its majority is with a single political party (BJP), everyone is expecting the government at center would take some bold decision. It is possible. It is important to take decision – some may be wrong, but it is always better to take some wrong decisions than non-decision at all. First 6 months were testing time – firstly because of pressure of expectations and inexperience (for more than a decade BJP was away from ruling position) and secondly because of delayed monsoon. It seems monsoon too was testing patience of the new rulers as well as all residents. Though delayed, finally monsoon has settled and it seems government too has settled down. They have reviewed the situation and it seems now things have started moving.
From the point of view of companies looking at India, either as a manufacturing base or as a potential market, there can’t be a better time than current. Most important aspect any investor looks for, while thinking to enter a new country, is government stability. Undoubtedly, there can’t be a more stable government than current. Second important factor is leadership. Mr. Narendra Modi, prime minister of India, is known for his strong leadership and proactive approach towards development. Third aspect is government approach towards industry and commerce. One of the reasons people have voted ruling alliance to power is because of the vision of growth and development NDA promised in their election manifesto. Now it is time that government acts on its promises and try to fulfill them. Everybody who knows about India is aware that it is difficult, almost impossible, to fulfill all the promises but any efforts towards even partial fulfillment will be seen as positive movements.
It seems government is moving in the right direction towards fulfillment of people’s expectations from it. Areas NDA government has promised to work on include economic revival, growth, agriculture and balanced development for all. The slogan of new government is “Sabka Sath, Sabka Vikas” (“participation of all, development of all”) and the new initiative by government “my Gov’ appears to be a right step towards involvement of all in governance. Through this portal, government is seeking advice, thoughts and ideas on various topics that concern India. At the same timethe portal is asking people to participate directly in those areas which interest them so that they could also be part of execution.
Economic situation is stable, stock exchange index is showing steady growth, monsoon, though delayed in many parts of the country,has crossed its average, farmers expect a good crop, government has settled down, people expectations also have become realistic and now it’s time for government to really act, start implementing the programs they promised during the election campaign. NDA said “Ache Din Aane Wale Hain” (“Good days are going to come”) and people expect them to come soon. Social media has started mentioning about some policy decisions, which could mean good days have started. And, there cannot be better time for investment in a country than when both Government and people are positive about its future…
RAVI PATIL - Director INDOLINK India.