Modi moved their cheese.

Party conversations on the economy are a bit sour these days. Especially, if there are industrialists in the room. Trying to understand the reasons gives one a strange insight. Indian industry is no different from other interest groups believing in entitlement. Much as they talk about globalizing their business and achieving world scale, they also want VAT holidays, lower tax rates, cheap land in excess over what they need, sweet deals of every possible kind and lastly protection from imports. The number of products enjoying import protection through special customs tariffs is simply mind boggling. Most of such protection was doled out by the previous regime. The change of focus of governance towards a more competitive corporate culture has shaken Indian industry from the inside. They now know the writing on the wall. The cheese has moved for Indian business. The smarter ones have started moving. The future belongs to the fast movers. This should only mean the stock markets will see a leadership churn. The top deck is only set to change for the better. Now, investing must swiftly align with the doers and those willing to face the market. Those blaming the government surely aren’t going to be the doers.

The best of opportunity takes birth in the worst of times.

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