Modi budget will lead to prosperity, Indian business honchos tell US

Confirming the uptick in business sentiment caused largely by the Narendra Modi factor, a delegation of Indian business honchos told an audience in the US that there is a tremendous mood swing and positivity in the country.

The visiting delegation of CEOs from the Confederation of Indian Industry (CII) described the NDA government's national budget as visionary.

In an interaction at the Carnegie Endowment for International Peace, the Indian business leaders highlighted the growing sense of optimism among both the public and industry in India following the recent election results which brought BJP to power with a landslide majority.

CII president Ajay Shriram described the unique nature of the recent elections, in which the BJP came to power solely on the campaign promise of growth and development, which speaks to the aspirations of India's young people.

Describing the 2014-15 annual budget as visionary, Shriram commended the new government for moving very actively to ease and facilitate the way business is done in India.

"Success in India will come with leadership, mindset change, philosophy and action," he said.

Chandrajit Banerjee, director general of CII, also appreciated the government's vision and receptivity to new ideas and thoughts, especially from industry.

Naushad Forbes, vice president of CII and director, Forbes Marshall Pvt Ltd, focused on the promising steps being taken in India's education sector and the increasing role of the market in this sector which is having a net positive impact on issues related to quality and equity of access.

He stressed the community college model in the US as one worth looking at in India as well.

Vikram Kirloskar, vice chairman, Toyota Kirloskar Motor, highlighted the importance of the manufacturing sector and pointed out that the role of industry in this sector related to enhancing quality, competitiveness and innovation.

Rajan Navani, chairman of a CII committee and managing director of Jetline Group of Companies, spoke about the need for India to channelize the power of India' youth through skilling and leadership development.

The discussion that followed came at a critical time in India's engagement with the US, with the resumption of several stalled bilateral dialogues , beginning with the US-India Strategic Dialogue in Delhi next week.