Rakesh Jhunjhunwala, the veteran investor has predicted that Modi government will triumph the 2019 general election and he will bet on BJP. Referring to the recent defeat of the BJP in the state elections, Jhunjunwala said, “The BJP has not lost as badly as Congress lost in 2013. I would not take this election result to be the final guide to 2019 general elections. I will still bet my money on a BJP government led by Modi,”. Speaking at the annual TiECON summit in Mumbai, he gave the factors behind the growth story of India and said, “Skills, democracy, demographics, entrepreneurship, governance and natural resources are factors behind India’s growth.”
Rakesh Jhunjhunwala called democracy an important factor for the economic and political development of the country. He presented the example of Botswana which has longest democratically elected government on the African continent and is the most prosperous country on the continent. “People are underestimating the implications of governance. It has a long way to go, but it is slowly and surely coming,” he added. The debt accumulation by China to almost 300 percent of its GDP and stability of Euro was predicted as major concern for global growth by Rakesh Jhunjhunwala.
Previously, other than Rakesh Jhunjhunwala, many industrialists and investors from India and across the globe had shown faith in Modi government. Ratan Tata, the ace industrialist and former chairman of the Tata Group had shown confidence in Prime Minister Modi, in an interview with columnist and author Suhel Seth. On being questioned about the Prime Minister, Tata said that Modi is capable of delivering the ‘New India’ that he has promised to the people of the country.
N. R. Narayana Murthy, the pioneer of Indian IT industry reasoned for another term for Modi government. In an interview with ET Now, Murthy said, “We must be grateful that there is at least a national leader of Modi’s calibre who is interested in improving India. Looking at last 5 years, I feel that having a leader who is focussed on nation, focussed on discipline, cleanliness, and economic progress is a good thing. Continuity of govt would be a good thing.”
The group chairman of Larsen & Toubro (L&T), Anil Manibhai Naik, in an interview with Swati Khandelwal of Zee Business supported another term for PM Modi. According to a DNA report, in reply to the question Anil Manibhai Naik said, “This year’s elections are going to be different as Prime Minister Narendra Modi, who is a tough taskmaster with great capabilities, is being pressurised from all sides by the Opposition, which does not like his style of working. The current situation is Modi versus all, thus this election is going to be tough for Modi. That’s why I feel that the election results must be a good one, and Modi should retain power. Or else things will nosedive, and we have experienced a situation twice where the prime minister has been changed in six months. In the second scenario, the Congress, which can win maximum 100-125 seats, will have to form the government with support from 12-15 parties, which is not good for the country.”
John Chambers, a former executive chairman and CEO of CISCO said that “India’s growth is at risk if Modi is not re-elected.” The corporate leaders at home and around the world have praised Modi government for economic and social reforms. The industry veterans like Ratan Tata, Anand Mahindra, and Uday Kotak have showered praises for the Modi government. Many international business leaders like Former Cisco CEO, John Chambers even warned that it will be disastrous for India if PM Modi does not get the second term.
In the last four and a half years, PM Modi has taken many path-breaking steps to modernise the Indian economy. The steps include demonetization, GST and IBC. The Modi government has been able to take forward the economic development along with the development of the people at the grass-root level. Also, steps like the construction of toilets, Ujjawala Yojna etc. have received praises by the corporate leaders and people across the political spectrum.