'Modi govt ushers in positive vibes in the Indian economy'

After the formation of the Narendra Modi government, there is a tremendous mood swing and positivity in the country, a visiting delegation of Indian chief executive officers from CII said describing its maiden Budget as visionary.

The delegation of Indian CEOs from Confederation of Indian Industry in an interaction with the Washington audience at Carnegie Endowment for International Peace on Friday highlighted the growing sense of optimism amongst both the public and industry in India following the recent election results which brought Bharatiya Janata Party to power with a landslide majority.

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Ajay Shriram, CII President described the unique nature of the recent elections, in which the BJP came to power solely on the campaign promise of growth and development, which speaks to the aspirations of India's young people.

Describing the 2014-15 annual Budget as visionary, Shriram commended the new government for moving very actively to ease and facilitate the way business is done in India.

"Success in India will come with leadership, mindset change, philosophy and action," he said.

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In his remarks, Chandrajit Banerjee, Director General, CII also appreciated the government's vision and receptivity to new ideas and thoughts, especially from industry.

Naushad Forbes, vice president, CII and director, Forbes Marshall Pvt Ltd focused on the promising steps being taken in India's education sector and the increasing role of the market in this sector which is having a net positive impact on issues related to quality and equity of access.

He also specifically mentioned the community college model in the US as one worth looking at in India as well.

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Vikram Kirloskar, vice chairman, Toyota Kirloskar Motor, highlighted the importance of the manufacturing sector and pointed out that the role of industry in this sector related to enhancing quality, competitiveness and innovation.

Rajan Navani, chairman, CII National Committee on India@75 and managing director, Jetline Group of Companies  spoke about the need for India to channelize the power of India' youth through skilling and leadership development.

He also spoke of the use of technology as a major potential game changer in India.

The wide ranging discussion that followed came at a critical time in India's engagement with the US, with the resumption of several stalled bilateral dialogues, beginning with the US-India Strategic Dialogue in Delhi next week.