Baba Kalyani, managing director, Bharat Forge, was a part of India Inc invited for the swearing-in ceremony of the Modi government.
“I have to congratulate Prime Minister Narendra Modi for the second term and for the choices that he has made in the council of ministers. We will see a lot of leadership, experience, diversity, inclusion – I think it is good for India. That is what India needs. Personally, I believe that the first five years, the PM has laid the road for India’s growth, has bought in a lot of reforms and I think we should now start seeing the acceleration for India to take its rightful place in the global economy under his leadership,” he said.
“It is very clear what India needs. We need to see economic growth, we need to see jobs, we need to see more and more technology coming in, we need to see more and more investments coming in. So the more restrictions you take away and create a level-playing field for everybody to come in, the more of this you will see. That is what everybody in the world is doing. So it is nothing very special that was recommended. We have to wait and see what happens,” he added.
In terms of better access to credit and availability of liquidity as far as corporate India is concerned, Kalyani said, “I have not felt that there is a squeeze in credit. We have an issue that is going on in the banking system that is getting addressed. However, businesses that are doing well get credit. There is no problem – I have never faced a problem to get credit."