Business Standard

From hope to fear: How corporate India's view of Modi govt has changed

The euphoria of corporate India over Narendra Modi's rise has ended. It's been replaced by suspicion and fear as he has let businessmen know they can't see him as their own, like in Gujarat

Illustration by Binay Sinha
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Illustration by Binay Sinha

Shekhar Gupta
Delhi and Mumbai, we keep saying, are like two sovereign republics yet to establish diplomatic relations with each other. That situation hasn’t changed very much. The relative power of the two varies, depending on just one variable: The strength of the government in Delhi. The cities, for clarity, are mere metaphors for the power establishments, one representing politics and the other legacy, old-economy Indian entrepreneurship and the financial world still pretty much controlled by a small ecosystem of friends and families, interconnected with marital, ethnic, caste (and sub-caste or clan) ties, plus IOUs. This is like India’s permanent capitalist and
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First Published: Mar 30 2018 | 11:41 PM IST

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