Election 2014: How It Affects the Aspirations of Corporate India

BANGALORE:  An overwhelming majority in corporate India believes BJP’s Prime Ministerial candidate Narendra Modi is the best among all the PM aspirants to push economic growth, a poll conducted by Business Insider found.

46 percent of correspondents believed revival of the stalled projects worth $25 billion should be the top priority of the next government. “The government should focus on kickstarting the economy. Today, doing business is becoming increasingly difficult. The moment India addresses that one issue; we will see a jump in investments. Today, we have made it an approval raj, based on very ambiguous and cumbersome regulations. Just address regulatory reforms that will kick start the economy in a big way,” Kiron Majumdar Shaw of Biocon sums up the biggest concern of Indian industries.

61 percent of those participated, believed political parties have not given due importance to economy as an electoral issue. 73 percent rated the impact of Dr. Manmohan Singh’s tenure on economic growth as average and 27 percent rated it as ‘disastrous’. 80 percent felt the Congress led government failed to tackle corruption.

Corporate India is ambiguous about Arvind Kejriwal’s impact on Modi’s electoral prospectus-45 percent of the CEOs think Kejriwal may spoil his chances while 45 percent thought AAP leader would have no impact. "We need a party like AAP to play a part in politics but they need to evolve. I have high regard for Kejriwal because he stands for a new type of politician but he is being perceived as a bit of an anarchist and a bull in a China shop. The idea is very good but the methodology needs to be more matured”, said Kiron Majumdar Shaw.

Majority of the correspondents don’t think any party will get a clear majority in the forthcoming election but they rule out the chance of a by-election in next two years.

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