Ram Charan, the world-renowned business advisor, author and speaker, who first stepped into the world of entrepreneurship from his family shoe shop in a small town in northern India says 2016 is seeing a very different India.
Charan who visited after more than a year says “a wave of optimism is being brought about by the Narendra Modi-led government.”
The Dallas-based industry veteran believes there is more optimism in India and this will reap big benefits for India’s economic growth.
In a candid chat with Entrepreneur India, Charan, who has spent nearly 40 years of his life working with many world’s top companies, chief executive officers, and boards, said India now needs to earn the trust from overseas companies.
Known for cutting through the complexity of running a business in the fast-changing environment, he is one of the world’s most influential CEO coaches and a consultant.
Among the many things he considers positive, Charan finds more FDI the most crucial.
"FDI is important for every country to grow because it brings technology, not just money, it brings managerial practices and more importantly, it builds global networks. So there is a positive movement,” Charan said.
Charan outlined the government building political networks that are more achievable for economic growth in parts of Greece, parts of South – East Asia as the second positive movement, which is clearly visible.
“Overtime we will have a market for our services and products exceeding 2 billion if I exclude China and that’s a positive.”
The author of 15 best-selling books said there are clear priorities compared to the previous government and he sees things are moving by removing some of the regulations.
Charan says the Government of India’s work under Modi and former Reserve Bank of India Chairman Raghuram Rajan towards bringing in more discipline in managing non-performing loans, the robust financial systems essential for global credibility, has improved the image of India outside.
Charan believes India to be a preferred destination for businesses for clear reasons.
“We have the technology, we have engineers, we speak English, our people are good business men and we know how to remove constraints,” Charan said.
Charan has worked with companies including GE, MeadWestvaco, Bank of America, DuPont, Novartis, EMC, 3M, Verizon, Aditya Birla Group, Tata Group, GMR, Max Group, Yildiz Holdings, and Grupo RBS in the past and holds seminars on improving business practices across the globe. He has also served on the boards of Hindalco in India, Emaar, Austin Industries, Tyco Electronics, and Fischer and Porter.