Morgan Stanley’s latest report shows India driving a fifth of global growth by the next decade, which is a big fillip to Prime Minister Narendra Modi government. However, it predicted a fragmented outcome in the 2024 Lok Sabha elections.
News18’s Marya Shakil spoke to Morgan Stanley India Managing Director Ridham Desai, who called Prime Minister Modi an ‘inflation hawk’, which essentially means he does not want inflation — this is critical for the prosperity of the economy.
Desai also praised India for focusing on macro stability when countries like the US were dealing with inflation during the pandemic.
Watch to know what he said!
#MorganStanley #RidhamDesai #IndiaGDP
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India Focused On Improving Business Viability: Morgan Stanley, MD Ridham Desai Praises PM Modi
In recent years, India has been making significant strides in improving its business viability, and according to Morgan Stanley’s Managing Director Ridham Desai, Prime Minister Narendra Modi is deserving of praise for these efforts. Desai highlighted Modi’s focus on key economic reforms that have positively impacted the business environment in the country.
Morgan Stanley has been closely monitoring India’s progress under the Modi government and has found the efforts to be commendable. Desai believes that the government’s commitment to economic reforms has been instrumental in attracting new investments and fostering a more favorable climate for businesses to thrive.
One of the critical reforms initiated by the Modi government was the Goods and Services Tax (GST) implementation, aimed at simplifying and unifying the indirect tax structure. This reform has greatly eased the burden on businesses, reduced complexities, and increased efficiency in the taxation system.
Additionally, Desai praised the government’s efforts to improve infrastructure development in the country. Through initiatives like the “Make in India” campaign and the National Infrastructure Pipeline, the Modi government has focused on enhancing the country’s manufacturing capabilities and creating a robust logistics network.
Moreover, Desai highlighted the government’s commitment to digitization and the digital infrastructure, which has seen considerable progress in recent years. The digital revolution in India has led to the emergence of innovative start-ups and increased efficiency in various sectors.
Prime Minister Modi’s administration has also undertaken several measures to improve the ease of doing business in India. The introduction of the Insolvency and Bankruptcy Code (IBC) has streamlined the resolution process for failing businesses, attracting greater foreign investment and boosting confidence in the Indian market.
Additionally, the government has implemented various measures to simplify regulatory processes, reduce bureaucracy, and encourage entrepreneurship. These proactive steps have led to a significant improvement in India’s ranking on the World Bank’s Ease of Doing Business Index over the years.
Looking ahead, Desai believes that India’s business viability will continue to improve under Prime Minister Modi’s leadership. The strong emphasis on infrastructure development, digital empowerment, and economic reforms is paving the way for further growth and competitiveness.
However, Desai also emphasized the need for continued reforms to address key challenges faced by businesses, such as labor laws, land acquisition regulations, and the overall ease of doing business. By addressing these issues, India can further solidify its position as an attractive destination for both domestic and foreign investments.
In conclusion, India’s focus on improving business viability is being recognized globally, with Morgan Stanley’s Managing Director Ridham Desai praising Prime Minister Modi for his commitment to economic reforms. The government’s initiatives to simplify taxation, enhance infrastructure, promote digitization, and improve the ease of doing business have been commendable. With continued efforts in these areas, India is poised to become an even more attractive destination for businesses and investors.
So much PM Vandana. Shoyld be taken with a pinch of salt
Retail Investor be cautious. Ridham Sir had predicted Sensex at 1 lakh BY year 2021-22. JP Morgan overseas clients must be complaining about returns from Indian markets. So bhai Saab has come up with this new rant. Be careful with your investments the Equity markets are likely to give moderate return for next 2-3 years
Morgan Stanley MD is Indian , can be manipulated
Modi is an Anpadh PM, he doesn't understand economy of country, it has nothing to do with him.Country would have done even better if some other government. This is a paid statement.
Per Capita Income as of yr 2022:
India: 2,301 $
Bangladesh: 2,687 $
China: 12,814 $
People could rather forward such videos on social media rather than things that are quite negative. Congress needs freebies for votes. India is taken to a spin. Congress endorses corruption. India suffers a lot wherever Congress comes to power.