See:Prospects of Narendra Modi as PMUnprecedentedly there is a large coverage in 1264 worded articleon Narendra Modi in Nikkei a Japanese paper on 12th November 2013..It announced red-carpet welcome for Modi in Japan.He has envisioned special role for Japan. “I foresee a pivotal role for Japan in helpingimprove India’s Core manufacturing sector competency and competitiveness.If the regime change takes place, he shared his willingness to work closely.Already Japan is building industrial and integrated township in Gujarat,he looks forward to more public private investment from Japan in industrialand infrastructure projects across India.Article further notes his humble beginning and early life struggle.Journey of a Hard working Tea-Boy who became Astute CM.The article emphasises his hard-working nature as a tea-vendorwho transformed his earthquake stricken state to one of India’s leading state.Nikkei lauds him as Astute CM with great administration skills as Chief minister.Interestingly the article chooses Narendra Modi v/s Rahul Gandhi asKURONIN v/s ONSOUSHI metaphor.They are Japanese words. KURONIN literally means “a man who understandother’s problem (because he had a hardtime himself).ONSOUSHI on other hand means Scion or heir inheriting throne.While how will muslim vote for Modi is mentioned, article feels this electionis all about reviving Indian economy.Narendra Modi comes with stellar performance at his home state.Rahul Gandhi on the other hand leans on his family legacy,which does not give solution to people’s problems.Problem for Congress is they have no one but Rahul Gandhi to leanon as either way this is the last term for current PM Manmohan Singh.—End–The timing of this unprecedented big coverage to NaMo is quite significant.Shinzo Abe (PM of Japan) with whom Modi shares very cordial relationship isin the midst of reviving Japanese economy is a big fan of India.It was during his earlier stint as PM that DMIC was conceived.There was a period where Abe went incognito from political space for health reason.It was the same period where India was suffering from policy paralysis and things onthis project hardly moved (from Japanese standard).Advent of Modi gives them a big hope on how to engage effectively.Both NAMO and ABE share a cordial relationship.Both of them were locked in their respective election last year.Interestingly media was hostile to both in spite of definite wave in their favour.ABE after resounding victory has not wasted any time and has been trying tofigure out how to work even more closely with India.AS Abe sits down for cabinet review on India strategy, advent of Modi willbe very much on his mind.FDI and Global RelationshipEven though Modi has said this many times,Nikkei still tries to extract reformist side especially on global relations.It was very interesting to learn what he had to say on China and Pakistan.The last is very important because of the perceived Muslim factor.Interestingly Nikkei also gets into his thoughts on FDI and Retail.Modi’s reply could also be music to people on the other side of the pacific.For English press globally whenever BJP is mentioned,the word hardliner Hindutva party is attached by default.For people not familiar with Japan, another iconic figure that willperfectly fit the bill for KURONIN could be Abraham Lincoln.Who rose against all odds.For once poor and aspiring voters of India and global stakeholderssees their hope converge in one man. Narendra Modi.
http://deshgujarat.com/2013/11/23/world-is-whooping-it-up-at-narendra-modi-as-pm-prospect-part-1/
Pic for representational purpose.
While Indian voters may still be undecided about who to support in the 2014 general election, foreign investors expect a regime change in India.
More and more foreign brokerages are advising clients Narendra Modi will likely lead the Bharatiya Janata Party (BJP) to form a coalition government in 2014.
Typically, clienteles of brokerages are cash-flush foreign institutional investors that own around 45% of the entire floating stocks in the Indian equity markets.
Brokerages have indicated to their clients that Modi’s rise could well be positive for both the investor community and the re-emergence of the India growth story.
Japanese brokerage Nomura is the latest to echo Modi–the next PM view, along with prominent peers like CLSA, UBS, Bank of America-Merrill Lynch, Goldman Sachs and HSBC.
Nomura’s political analyst, Alastair Newton, has already gone on record that corporates and markets expect a BJP-led coalition in New Delhi.
On Monday, the brokerage stated in its advisory that a “BJP-led coalition is likely to win power, which may be positive for the economy in the medium-term.”
Foreign brokerages are convinced that Modi’s business-friendly approach and strong corporate governance as Gujarat’s chief minister will hold him in good stead when the role gets elevated to that of the country’s PM.
In his weekly newsletter ‘Greed & Fear’, Christopher Wood, strategist at CLSA Asia Pacific Markets, wrote last week: “India’s electorate is pining for a change and, in particular, the return of a government focused on a growth mandate rather than a mandate based on the promise of more handouts on the ‘alleviation of poverty’ theme...”
In its 2014 outlook for Indian equities, HSBC Capital Markets, too, talked about opinion polls predicting a BJP win.
“Currently, mostly all opinion polls... point to the BJP emerging as the largest party. In our view, if the BJP-led National Democratic Alliance (NDA) comes to power, it would be positive for the infrastructure-led sectors,” wrote Jitendra Sriram, equity strategist and head of research-India, at HSBC Securities and Capital Markets.
The general perception among the electorate, foreign brokerages are telling their clients, is that the Congress has become a freebie-doling party, given to populist measures like the food security bill and policies aimed at boosting consumption.
Gautam Chhaochharia and Sanjena Dadawala, analysts at UBS Securities, noted that based on discussions with investors, the markets appear to be inclined more towards a Modi-led BJP than Gandhi-led Congress.
Modi–the next PM discourse started in May 2012 when CLSA first published a report to that effect.
Last week, CLSA reinforced that view by saying that Modi’s popularity is reflected in the vast turnouts at political rallies, a contrast to Rahul Gandhi’s.
Although most brokerages prefer the BJP, they, nevertheless, feel that markets and the economy would like to see a strong and stable government at the Centre — be it the Congress or the BJP.
“We believe India’s political climate in mid-2014 can make or break the longer term economic outlook,” said Sonal Varma, economist at Nomura. Although most brokerages prefer the BJP, they, nevertheless, feel that markets and the economy would like to see a strong and stable government at the Centre — be it the Congress or the BJP.
“We believe India’s political climate in mid-2014 can make or break the longer term economic outlook,” said Sonal Varma, economist at Nomura.
More and more foreign brokerages are advising clients Narendra Modi will likely lead the Bharatiya Janata Party (BJP) to form a coalition government in 2014.
Typically, clienteles of brokerages are cash-flush foreign institutional investors that own around 45% of the entire floating stocks in the Indian equity markets.
Brokerages have indicated to their clients that Modi’s rise could well be positive for both the investor community and the re-emergence of the India growth story.
Japanese brokerage Nomura is the latest to echo Modi–the next PM view, along with prominent peers like CLSA, UBS, Bank of America-Merrill Lynch, Goldman Sachs and HSBC.
Nomura’s political analyst, Alastair Newton, has already gone on record that corporates and markets expect a BJP-led coalition in New Delhi.
On Monday, the brokerage stated in its advisory that a “BJP-led coalition is likely to win power, which may be positive for the economy in the medium-term.”
Foreign brokerages are convinced that Modi’s business-friendly approach and strong corporate governance as Gujarat’s chief minister will hold him in good stead when the role gets elevated to that of the country’s PM.
In his weekly newsletter ‘Greed & Fear’, Christopher Wood, strategist at CLSA Asia Pacific Markets, wrote last week: “India’s electorate is pining for a change and, in particular, the return of a government focused on a growth mandate rather than a mandate based on the promise of more handouts on the ‘alleviation of poverty’ theme...”
In its 2014 outlook for Indian equities, HSBC Capital Markets, too, talked about opinion polls predicting a BJP win.
“Currently, mostly all opinion polls... point to the BJP emerging as the largest party. In our view, if the BJP-led National Democratic Alliance (NDA) comes to power, it would be positive for the infrastructure-led sectors,” wrote Jitendra Sriram, equity strategist and head of research-India, at HSBC Securities and Capital Markets.
The general perception among the electorate, foreign brokerages are telling their clients, is that the Congress has become a freebie-doling party, given to populist measures like the food security bill and policies aimed at boosting consumption.
Gautam Chhaochharia and Sanjena Dadawala, analysts at UBS Securities, noted that based on discussions with investors, the markets appear to be inclined more towards a Modi-led BJP than Gandhi-led Congress.
Modi–the next PM discourse started in May 2012 when CLSA first published a report to that effect.
Last week, CLSA reinforced that view by saying that Modi’s popularity is reflected in the vast turnouts at political rallies, a contrast to Rahul Gandhi’s.
Although most brokerages prefer the BJP, they, nevertheless, feel that markets and the economy would like to see a strong and stable government at the Centre — be it the Congress or the BJP.
“We believe India’s political climate in mid-2014 can make or break the longer term economic outlook,” said Sonal Varma, economist at Nomura. Although most brokerages prefer the BJP, they, nevertheless, feel that markets and the economy would like to see a strong and stable government at the Centre — be it the Congress or the BJP.
“We believe India’s political climate in mid-2014 can make or break the longer term economic outlook,” said Sonal Varma, economist at Nomura.
http://www.dnaindia.com/mumbai/report-foreign-brokerages-say-buy-narendra-modi-1926473