Enthused by the upbeat mood visible about India here at World Economic Forum, eminent banker Uday Kotak said investors now want to see some real action on the ground.
“The mood was very upbeat about India. The investors have shown great interest in India once again and now they want real action on the ground,” said Kotak, who has been coming here for the WEF Annual Meeting for many years.
“There are significant expectations from the Budget. The challenge is to deliver on the promises now,” Kotak Mahindra Bank chief told PTI in an interview.
Asked whether the investors were convinced about promises being made by the government, Kotak said, “Investors are certainly interested in India, but long term strategic investors want to see some more action on the ground.”
He also said the big stimulus from European Central Bank is going to have a significant impact for global flows positively and Indian markets may also get greater flows.
“But, strengthening of our currency will be a challenge,” he added.
Asked whether Indian markets would get larger flows that the record-high levels of last year, Kotak said, “There is a good chance.”
“The key issue is if these flows come and the currency strengthens, how do we make sure that we are able to ‘Make in India’ and manage a strong currency,” he added.