CNBC-TV18 is celebrating three years of the Modi government and is analysing the report card of the government. Harsh Mariwala, Chairman of Marico shared his own assessment of the Modi government in last three years and where the economy stands as of now.
“The government has done very well, we are now the best foreign direct investment (FDI) destination in the world. India’s image has dramatically improved in the last three years”, he said.
Speaking about reforms he said, some of the reforms like goods and services tax (GST) and banking and insolvency laws are still work-in-progress. Some of the reforms may take time to have an impact. “We have to have a lot of patience in terms of how the reforms are going to impact the economy but I am very positive that many of the reforms are on the right track”, he added.
India is a big country and it takes longer for an elephant to dance, he mentioned.
On non-performing assets (NPAs) he said, “Even if the Reserve Bank of India (RBI) steps in, I do not think there is a short-term solution to this. It is a huge problem and I do not think that is going to go away in the near future.”
For full interview, watch video...
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