Indian born Canadian billionaire Prem Watsa has joined the long list of industrialists and investors who have praised the reformist policies of Modi government and batted for its second term. Watsa is often referred to as ‘Warren Buffet of Canada’ for his strong emphasis on value based investing. CEO of Fairfax Financial Holdings, Watsa is known as one of the smartest and most shrewd investors in the world. In last few decades, his company has got traction for providing good returns to shareholders. “In the two years since the end of 2016, India has moved up by 53 places to number 77 in the World Bank Business Report’s “Ease of Doing Business” measure. This is a testament to the unrelenting economic reforms that PM Modi has been implementing since he took office almost five years ago,” said Watsa in a letter to shareholders.
Previously, Rakesh Jhunjhunwala, the veteran investor predicted that Modi government will come back to power in 2019 and that 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 added, “Skills, democracy, demographics, entrepreneurship, governance and natural resources are factors behind India’s growth.”
In an interview with columnist and author Suhel Seth, Ratan Tata, the ace industrialist and former chairman of the Tata Group had shown confidence in Prime Minister Modi. On being asked about the leadership of Prime Minister, Tata said that Modi is capable of delivering the ‘New India’ that he has promised to the people of the country.
R. Narayana Murthy, the pioneer of Indian IT industry reasoned for another term of the 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.”
John Chambers, a former executive chairman and CEO of CISCO said, “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 heaped 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 Indian economy along with the development of the people at the grass-root level. Also, steps like construction of toilets, Ujjawala Yojna etc. have received praises of the corporate leaders and people across the political spectrum.