"Mr. Modi has appointed a world class finance minister"

MSc in Mechanical Engineering – MIT
Awarded the Padma Bhushan
(Indian equivalent to British Peerage)
by the Government of India in 1983.
Elevated to the British Peerage in 1996.

Said : Lord Swraj Paul, 83, founder of the multi-billion-pound Caparo Group and one of the richest individuals in Britain, in an interview with Prasun Sonwalkar published in today's Hindustan Times under the title "Corporate-politics nexus should be killed : Swraj Paul."

The interview, published in the Q&A format, lists Paul's eight expectations from the new government. When asked to list the main problems in doing business in India, he said : "The government should make different policies; one for investment in the stock market and another for investment to put up new industry which creates very stable jobs. The two must be monitored differently and reported separately."

"The policies in future should be clearer and more transparent. People everywhere are looking for places to invest, so India should not worry about attracting investment. All that needs to be done is that when the investors come into India then they are treated fairly. No decisions should be made on a case by case basis or different things for different people," he said. 

On whether Modi can bring about the changes he has promised, the high expectations he has raised......

"I certainly hope so and believe so and I wish him all the luck. The whole of India wants him to succeed and whole world will envy him if he does." - Lord Swraj Paul

Lord Paul stressed on the need for creation of jobs and production of goods. Making a veiled attack on the stock market, he said : "Stock market money is in and out. It basically doesn't create any long term worth for the country.  In my view, stock market investment should not even be treated as investment, it is just speculation. India has an active stock market and people can invest in it. Government must make clearer and very transparent rules so that nobody can abuse the system."

"I certainly hope so and believe so and I wish him all the luck. The whole of India wants him to succeed and whole world will envy him if he does," was his reply when asked what he thought whether Modi could bring about the changes he has promised, the high expectations he has raised.