Mr Puri says India's economy has already bottomed out and the new government is moving in the right direction. Bureaucrats have started working and accountability is being brought in. There are intensive discussions on the goods and services tax (GST) and a large proportion of issues in terms of pricing, environment policies, etc. have become clearer under the new regime, he added.
According to the Reserve Bank, the industrial production is up, inflation is down, current account deficit is in control, dollar-rupee is stable, fiscal deficit could come below the estimates, he said.
Mr Puri says he has good experiences of working in Gujarat, where Mr Modi was the chief minister for over a decade. In Gujarat, bureaucrats were empowered and solved most of investors' problems, he said.
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