General election 2014 results might prove blessing in disguise for economic growth and job prospects in next 2-3 years. Going by various predictions and prospects, getting an MBA in 2016 may shower great career opportunities as the iceberg of economic slowdown would have melted by then.
The facts of May 16, 2014
Even before the declaration of results on May 16, 2014, the prospects of Narendra Bhai Modi becoming next Prime Minister of India made the stock market buoyant, Rupee made the smart recovery against the dollar and those who kept away from investing in India, had their inclination to invest in India Inc. known, according to numerous media reports.
Interestingly the low or no investment by foreign investors during last few years suddenly up surged during the 3 days since May 16, 2014. More than 1 lac crore has been invested in India. It’s the hope for better future that would turn the pessimistic mood of Indian economy into optimistic and vibrant one.
The road ahead
The new Government which comes with a clear majority plans to target high economic growth during the next 2 years, regaining the glory to Rupee, judicious industrialization based on local resources, creating crores of jobs over a period of 5 years, creating a better and conducive investment environment in India.
Let us hope what media predicts about the economy and future job market for next 5 years turn out to be as correct as their exit polls 2014
How Narendra Modi can transform economy in 6 months
Economic Times reported on May 17, 2014 that India will have a stable, decisive government for the first time in 30 years since 1984.
In the financial year 2014-15 India will still have a GDP growth around 5.5%. With the correction in India’s deep structural problems for which there are no quick-fixes, Modi can bring about the good management he has promised. Growth could ramp up to 6.5% next year and stabilise around 7% subsequently. If so, Indian markets may be in for a sustained bull run.
Modi Effect: NSE Clocks Highest Turnover in Futures and options Segment
NDTV Profit has reported the highest notional turnover in equity derivatives in of Rs.436,884.09 crores in the futures and options segment as investors cheered Narendra Modi led BJP’s Victory in polls.
According to Angel Broking Chairman and MD Dinesh Thakkar “There is well grounded expectation that the new Government will usher in strong pro-reform policies and kick start the investment cycle. The key now is that the new government delivers on the aspirations of one of the largest and fastest youth populations in the world”
The new Prime Minister designate Narendra Modi has promised to unblock stalled investments in power, road and rail projects to revive economic growth, Tax and labour market reforms, gradual opening up to foreign investment and seeks to create 10 million jobs to employ young people entering the workforce.
The top fund managers and economists like Tanjit Shahani, MD, Novartis India Ltd; C S Ghosh, Chairman & MD, Bandhan Financial Services; Venugopal Dhoot, Chairman, Videocon Industries; U R Bhat, MD, Dalton Capital Advisors; Radhika Rao, Economist, DBS, Singapore; A Prasanna, Economist, ICICI securities and others are quite optimistic of the future growth map of India which will give good career opportunities to the qualified lesser employed youth. In their view with the management of inflation and fiscal deficit, everything else will fall in place.
http://profit.ndtv.com/news/market/article-modi-effect-nse-clocks-highest-turnover-in-futures-and-options-segment-388597
Modi promises ‘good days’ for India after election victory
Irish Times is very optimistic of future economic growth of India and its impact on enhancing the job prospects and entrepreneurship development skills. Rupee has climbed to a 10-month high against the dollar. Financial analysts said overseas investors too were lining up to invest in an India hopeful of a better economic climate, responsive fiscal policies and a corruption-free environment under Mr Modi.
Modi victory restores business confidence, raises hope of economic reforms
Sidharth Birla, President, FICCI pointed out that it is amply clear that the country, especially the youth, wants development and good governance. "FICCI hopes that this mandate will help the leadership restore much needed investor confidence, attract higher investments and generate employment especially in the manufacturing sector"
Rana Kapoor, President of Associated Chamber of Commerce and Industry (ASSOCHAM) said that “The Indian industry and the global investors have hopes on Mr Narendra Modi who has a solid track record of governance in Gujarat. We are sure with his strong, transparent and policy-driven governance, India is on way to becoming once again the much sought after destination of international investors. Our clout as a nation will only increase from here.”
India Elections: Modi wave, market impact and prospects for the economy
According to Commodity.online, the Confederation of Indian Industry (CII) has presented a more optimistic picutre. It has said that with robust reforms and a strong economic revival package, the economy can achieve a growth of 6.5% in 2014-15.
Quotes: India Inc reacts after election results 2014 hand win to Narendra Modi
Financial Express has reported the highly optimistic mood of the Captains of industry on Narendra Modi's victory in 16th Lok Sabha election. Chanda Kochhar, ICICI Bank MD & CEO; Kumar Mangalam Birla, Aditya Birla Group Chairman; N Chandrasekaran, TCS CEO; Sachin Sandhir; RICS (South Asia) MD; Srichand Hinduja, Hinduja Group Chairman; Rana Kapoor, Yes Bank MD & CEO are of the view that economic growth will be accelerated, inflation will be controlled, tax laws will be reformed, fiscal deficit will be reduced and more employment generation is expected. This would revive the investor optimism in India.
Narendra Modi's govt has opportunity to bring changes in telecom: PwC
Financial Express also reports the expected changes in telecom. According to PwC India telecom leader Mohammad Chowdhary "The overall majority provides an opportunity to ring in some new tunes for the flagging telecom industry. Now there is a chance to inject fresh momentum into the sector. There are three areas that the new government will have to take up for consideration in the first 100 days".
The ray of hope
If we believe these reports and future expected growth in India, we may expect a high demand for MBA professionals in the year 2016 in all the sectors like BFSI, Telecom, IT/ITes, manufacturing, transportation, Real Estate and lot more. The MBA turn out from the present B schools is expected to receive a well designed career path with high pay packages in 2016.
Mr Narendra Modi’s reputation as a tough, "can-do" administrator, the man with the medicine to kickstart India's stuttering economy may transform the economic slowdown into the galloping economic growth. The "Gujarat model" of development means a focus on infrastructure, urbanization and eradicating red tape. This might prove to be a much-needed tonic for a country ranked 179th in the world by the World Bank in terms of destination to start a business.
The promise of economic development resonates particularly with the aspirations of the millions of young voters. India Inc now waits for a substantial increase in foreign and domestic investment increase in employment which is expected to happen in a period of 2 years.
Immediately after election results Business environment in India has started feeling a ray of hope. The candidates who take admission in MBA/PGDM 2014 can be hopeful to reap the benefits of success on passing out in 2016. The ride on NaMo wave may prove more fruitful than expected after 2 years of good governance.
Stay tuned to MBAUniverse.com for more updates on future MBA prospects
