New Delhi
I spoke at the Global Business Summit, a conference organized here by an Indian media group, and spent several days talking to Indian business leaders, journalists and senior government officials. Most were very optimistic about the country’s prospects. India’s economic growth is trending at about 7% a year, and a massive infrastructure push is transforming the country. The flight of foreign (and Chinese) capital from China is driving investment to India, with companies such as Apple moving electronics production here.
From the standpoint of government officials and many in the business world, there’s more. The Bharatiya Janata Party government is heavily favored in parliamentary elections this spring. With an approval rating of 78%, Prime Minister Narendra Modi remains the most popular leader in the democratic world and appears headed for a third term. Businesses like certainty, and even corporate chieftains who don’t share the BJP’s Hindu nationalism support a strong, stable and reasonably pro-business government in New Delhi.