How Do India’s Businessmen View Modi’s Return?
Video Editor: Purnendu Pritam
Modi is back with a bang!
In the last tenure, many of the Modi government’s economic policies were questioned. But has Modi’s return managed to lessen the uncertainty that prevailed in the market? Investors are positive that the market will now improve.
Raamdeo Agrawal, MD of Motilal Oswal, Chief of UBS India, Gautam Chaavchadia, and President of Godrej Industries Aadi Godrej, spoke to The Quint and reflected on how PM Modi’s win was going to affect the market, and whether this impact was going to be negative or positive.
Businessmen and traders largely opined that Modi’s win was going to be beneficial for the market. Raamdeo Agrawal, Co-Founder, Motilal Oswal Financial Services stressed that a period of uncertainty, that had loomed large, was now finally going to end.
How Will Modi’s Win Impact the Share Market?
Meanwhile, UBS Chief Gautam Chhaochharia claimed that the election results had been positive for the share market, and how the share market was going to behave would depend largely on the steps the Modi government would take for the economy.
Raamdeo Agrawal said that, while so far domestic investors had been buying shares, now, foreign investment would also increase. It would not be possible to estimate how much the market would rise, but it was likely – he said – that it wouldn’t slip below 11000 points.
‘High Hopes With Modi Government for Better Economic Policies’
Adi Godrej claimed that there would be more buying in the market, post elections. He also predicted that the market would continue to do well in the coming years.
Agrawal also opined that new policies which the government might launch would be somewhat similar to the previous ones. He asserted that the government should focus on issues like ‘credit crisis’ which have emerged in the past six months.
Gautam Chaavchadia expressed hope that the Modi government’s second term would be beneficial for the traders as it had the required political capital needed for economic reforms. In fact, the Modi governments’ new policies should be designed keeping long term growth in mind – he stressed.