The government's reforms overdrive over the last few days is clearly catching everyone's eye. Captains of India Inc explain to CNBC-TV18 that it is P Chidambaram who must be credited for having begun to turn the economy's wheel, but add a word of caution that mere framing of policies will not work and it is implementation of those policies that will boost the investment climate.
KV Kamath, chairman, Infosys, non-executive chairman, ICICI Bank, says, "I think this clearly signals to the entrepreneurial community that India is a good place to do business. From the mood being clearly in the negative, the change started with Chidambaram's entry into the finance ministry and promising to address some the key problems which businesses seem to have had."
Nitin Paranjpe, MD and CEO, HUL, adds, "I think all these initiatives are positive and signal the right intent. But we mustn't assume that the announcement of reforms alone will end all our problems and the economy will return to the high growth recorded in the past. There is still a lot work to be done. All of these announcements will have to be executed and I think we must make sure that we see these announcements to their logical conclusion. If we were to do that, it would be a step in the right direction."
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