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India's big business want Narendra Modi to be next PM

Sep 06 2013, 14:26 IST
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Congress is widely expected to struggle at the polls, as the economy is growing at its slowest rate. Congress is widely expected to struggle at the polls, as the economy is growing at its slowest rate.
SummaryCongress is widely expected to struggle at the polls, as the economy is growing at its slowest rate.

to boost India's economic growth.

His solitary appearance before captains of industry in January failed to ignite enthusiasm and his speech was criticised for being vague and rambling.

Regardless of who wins, an overwhelming majority of business leaders said they wanted a stable government after the election, though neither the BJP or the Congress is expected to win a clear majority.

The worry among investors is that a "third front" made up of regional parties with competing agendas may end up forming a fragile government that may not survive long.

Business leaders surveyed in the poll, however, thought that the economy has bottomed out with 42 percent forecasting a slight uptick in growth from the 4.4 percent reported in the last quarter to over 5 percent this year and the next. That is still far below the level policy makers say is needed to create jobs for the millions of youth joining the workforce.

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