Investors across the country and abroad are highly enthused by the prospect of Narendra Modi taking over as Prime Minister of India because they see in him the beginning of a new economic era in South Asia,said BJP National Executive Member & J&K Chief Spokesperson Dr Jitendra Singh here today and, as an evidence, he quoted the latest report from "Goldman Sachs Group",an American multinational investment banking firm founded in 1869,which states "Equity investors tend to view the BJP as business-friendly and BJP's prime ministerial candidate Narendra Modi as an agent of change". Similar views are also being expressed by several other analysts and economic experts from the western world,he added.
Elaborating further,Dr Jitendra Singh pointed out,India is facing macro challenges in terms of fiscal imbalances, high inflation and tight monetary policy, and therefore a change at the Center with Modi taking over is being seen to act as a catalyst for attracting foreign investment in the country. A series of opinion write-ups currently appearing in western media bear out that the focus of BJP and Modi, in particular, is on infrastructure and capital spending,which has generated global optimism,he said.According to Dr Jitendra Singh,Hong Kong based CLSA Asia-Pacific Markets ,one of the region’s largest and most highly rated independent equity brokers,has projected a wave in favour of the BJP's prime ministerial candidate Narendra Modi and CLSA strategists including Chirstopher Wood have sought to justify the rationale behind providing such a "political" projection by referring to worldwide investor queries received by them and the observation that there has never been this kind of interest in Indian politics from global investors. Among the negatives currently operative in Indian economy, CLSA has listed fiscal pressure, weak currency, slowing growth in consumption and political uncertainty,and a change in New Delhi is expected to overcome all these factors,he said.
Dr Jitendra Singh observed that wherever Narendra Modi has been going during the last two months to address public rallies,the trade and business organizations have shown an unusual interest to interact with him although this has not been always possible due to constraints of time.In Jammu also,several local trade and commerce leaders have expressed the desire for a possible meeting with Modi during his visit to the city for a public rally on December 1, he said. Investors,both home and abroad,are keenly looking forward to what the economists fancifully describe as "Modi-fication" of Indian economy and this has already started reflecting in the Sensex,said Dr Jitendra Singh.