India Inc gives 'thumbs up' to 100-day Modi govt

In a thumbs up for the Narendra Modi-led government, ahead of completion of 100 days in office, most corporate leaders are finding a "marked difference" in style of functioning of the government, with a strong focus on accountability and execution with ear-to-ground approach.

"Prime Minister Narendra Modi has earned a ranking of eight out of 10 in an India Inc survey," Assocham said quoting its survey.

As many as 78 per cent of the 357 top industry leaders surveyed in last one week said the NDA government has brought in a "marked change" in perception about the Indian economy among the global and domestic investors, as was evident from foreign institutional investors placing India on top of the emerging markets' pack and even going overboard on Indian equities.

Moreover, 83 per cent CEOs, CMDs and CFOs agreed that India looks far better in broad economic parameters like GDP prospects, including the industrial output, services, exports, trade deficit, current account deficit.

"The key fundamentals are looking pretty strong with promise to improve further taking the economic growth to the six per cent trajectory going forward.

Inflation too is inching downward, which will pave way for reduction in interest rates," Assocham President Rana Kapoor said.

However, the survey noted that a part of the industry which expected big bang announcements right from the word go did not get it right, while a realisation is dawning fast that the Modi Government has an ear to the ground showing preference for implementation rather than big bang announcements without follow-up.