Corporates to Narendra Modi: Push reforms, put India back in business

May 17 2014, 08:55 IST
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Narendra Modi flashes victory sign during a public rally at Ahmedabad. (PTI) Narendra Modi flashes victory sign during a public rally at Ahmedabad. (PTI)
SummaryIndia Inc expects Narendra Modi-led govt to jumpstart a slew of reform measures and revive economy.

way the rest of the world sees it."

Focus on infra & health

In India, the healthcare sector, despite improvements in recent past, suffers from underfunding and bad governance, says Glenn Saldanha, chairman and managing director of Glenmark Pharmaceuticals. “The new government should look at substantially increasing its spend on healthcare.”

Satish Reddy, chairman of Dr Reddy's Laboratories, said the new government needs to address the concerns surrounding clinical trials in India. “There is a lot of angst in the industry with respect to that and you have already seen the clinical trials being moved out of India,” Reddy said. “We are also seeing a slowdown in the process of approval...We hope that this delay is plugged.”

Demand push

Not only housing, sectors like automobiles have also witnessed a slump in demand. “Customer sentiment is expected to improve in the medium to long term with a new government at the Centre,” P Balendran, vice president of General Motors India said.

Managing Centre-state relations

The success of many of the policy initiatives that the NDA government may want to push forth will depend on the kind of support it receives from the various state governments in power across India.

S Unnikrishnan, MD and chief executive of Thermax, says that with Modi being a long-serving CM of a state himself, he will play a vital role in ensuring cordial relations between the Centre and states.

Digital governance

“The government should embrace digital technologies to connect with citizens in a holistic manner,” N Chandrasekaran, chief executive and MD of Tata Consultancy Services said. “For India, digital governance is the only way to fundamentally simplify its interactions with citizens at key service touch points.”

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