Bank of America CEO Brian Moynihan says India is the fastest-growing major market globally, offers huge opportunity, and will need large amounts of capital to sustain its growth. He praised Prime Minister Modi’s consistent reform agenda, including Make in India, but urged regulators and bureaucracy to make doing business easier, especially around operational and data rules. His guidance to Bank of America’s new India CEO is clear: improve profitability, use capital efficiently, and manage risk prudently.
Budget not a magic wand for growth; focus on reforms and fiscal discipline: Swaminathan Aiyar
Economist Swaminathan Aiyar argues that India’s strong economic growth is a result of long-term structural reforms, not short-term budget adjustments. He advises the government to