Modi says Hey Presto!

From The Top, India Investment Journal June/July Edition, 2016
by Manoj Ladwa
India Inc. CEO Manoj Ladwa digs deep into the Indian government’s recent Reforms Rush and explores what it means for India and the world economy.

Just when criticism was mounting at the pace of reforms and foreign investors were getting jittery, the Narendra Modi government announced a raft of reforms to open up some of India's most protected and strategically sensitive sectors, such as defence and aviation to 100 per cent foreign investment and made it much easier for foreigners to invest in single brand retails, food products, e-commerce and others.

Two years after Modi rode to power, accompanied by loud cheers from international and domestic business lobbies, many foreign investors were beginning to wonder if...