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  1. WEF 2018: Top industrialist Anand Mahindra lauds Modi; says economy is recovering

WEF 2018: Top industrialist Anand Mahindra lauds Modi; says economy is recovering

Amid Prime Minister Narendra Modi’s visit to Davos to attend the 48th Annual General Meeting of the World Economic Forum in Switzerland, top industrialist Anand Mahindra lauded the prime minister saying that the economy is certainly recovering.

By: | Published: January 23, 2018 11:40 AM
Anand Mahindra said, “My expectations are very high. An Indian Prime Minister has come here after 20 years.” (Image: Reuters)

Amid Prime Minister Narendra Modi’s visit to Davos to attend the 48th Annual General Meeting of the World Economic Forum in Switzerland, top industrialist Anand Mahindra lauded the prime minister saying that the economy is certainly recovering. Sharing his expectation in an interview to ET Now, Anand Mahindra said, “My expectations are very high. An Indian Prime Minister has come here after 20 years. The Prime Minister recognises that for whatever, it’s worth, you get, at one shot access to global audience. I think he’s intelligent enough to know that this is an opportunity not to be missed when we are at a very very important juncture in the growth of the indian economy.”

Further, the veteran industrialist said that Prime Minister Narendra Modi has taken a risk by coming at a time when the economy is in recovery mode. “He’s not going to come and gloat that we are the largest. He’s taken a risk and coming at a time when the economy is recovering from certain major reforms. He’s coming to say I’m confident. I think it’s a very good move, as a businessman I can tell you, the economy is recovering. So people will look back and say, Mr. Modi was right.”

On similar lines, top Banker Uday Kotak says that it an opportunity to put forward the nuanced message to present India as an open economy which cares for the interest of domestic as well as the global audience.

In an interview with PTI, Uday Kotak said, “We must understand that following our Prime Minister, US President Donald Trump is also coming to Davos with his ‘America First’ policy and he is coming after cutting corporate tax rates and after making big corporates bring back jobs and profits to America.”

The Narendra Modi-led government got a big boost on the eve of Prime Minister’s address to a global audience at Davos, as the IMF said that India could grow at 7.4% in 2018, as against China’s 6.8 per cent, making it the fastest growing country among emerging economies following last year’s slowdown due to demonetisation and the implementation of the GST. Notably, the International Monetary Fund has projected a 7.8 per cent growth rate for India in 2019. Growth rate projections for both 2018 and 2019 remains unchanged since its October 2017 World Economic Outlook projections. China, during the same period is expected to grow at 6.6 per cent and 6.4 per cent respectively, the IMF said.

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