New Delhi: Prime Minister Narendra Modi's 'Make In India' campaign continues to get a thumbs up from experts. Dean of Harvard Business School Nitin Nohria has lauded the campaign but said there was a need to reduce red tapism.
He added that the Modi government has to fulfill its promise of translating some of its policies into reality.
Here is an excerpt from the interview:
CNN-IBN: How has this government's performance been?
Nitin Nohria: Enthusiasm remains high. Sentiment is an important thing in business, but most impressive thing is how much optimism remains. People are patiently waiting for some of the promises to change into reality. The patience will last for another year and we'll need to see many more policies translate into reality.
CNN-IBN: Are we likely to see renewed investment commitment to India, in financial services sector?
Nitin Nohria: There are a lot of reasons to be optimistic for FDI and FII from US. Policy changes if get into action we should see a fairly significant change in the situation, fairly significant change in investment. The government has to do a lot to reduce level of bureaucracy that people have to face, red tapism, petty corruption concerns some companies when they think about 'Make in India'. So I would hope that Modi government's commitment to trying to make things simpler, they'll work on the ease of business aspect so that the 'Make In india' campaign could achieve its full potential.