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Long list of reforms: What India Inc expects from PM Narendra Modi

Zone(s): India ¦ Sector(s): Economy

[29 June 2014, Economic Times – India]  Businessmen were a troubled lot in Ayn Rand’s final novel, Atlas Shrugged, published in 1957 but set in America of the future. Hemmed in by aggressive regulation the industrialists are seen deserting their businesses, fortunes and the country itself. The scenario created by Rand is quite similar to what many Indian businessmen felt in the last years of the UPA regime — hounded by the CBI, shackled by the Supreme Court and pilloried by activists turned politicians.

Today, Rand has an army of fans in India which has the third largest fan base outside of the US (after Britain and Canada) and her books sell many times more than those written by Karl Marx. And India has probably just witnessed a symbolic ‘shrug’ — a nudge of the shoulders that bears the load of the earth. It shakes up the earth.  Or that is what Indian businesses expect Prime Minister Narendra Modi to do — shake up the systems of India, make it easier to do business, clear up procedural hassles. In his first month as PM, Modi has not disappointed them.