PRIME Minister Mr. Narendra Modi’s appeal to corporates to take bold investment decisions so as to push up the Gross Domestic Product (GDP) growth, makes a lot of sense. By this appeal, Mr. Modi has sought to extricate the country’s economy from a vicious cycle of low investment leading to lower GDP rating to still lower investment to ...! It is obvious that he is trying to encourage India Inc to make investment courageously so that the economy has some sensible infusion of funds, which in turn would impact the overall parameters positively.

 

Even as he made this appeal, the Prime Minister also sought to push India Inc to have faith in Indian economy’s legendary resilience that has helped the nation emerge from many point of crisis in the past seventy-plus years. This appeal makes a lot of sense particularly against the background of the fact that India Inc is engaged more in thinking about exit route from any crisis rather than reasonable risk-taking as an entrepreneurial quality and essential attribute of any enterprise.

 

There are positive signs in the economy, Mr. Modi insisted at centenary celebrations of ASSOCHAM. India Inc must read and exploit those to their own and the nation’s benefit, he added. For one more time, Mr. Modi explained to the members of India’s business and industry the positive steps his Government has taken and what kind of good impact those measures have had on the national economy.

 

Mr. Narendra Modi’s untiring effort to explain reality to the people in different segments is simply laudable and stupendous, to say the least. His effort is focused on building resolve of the nation to recharge the economy. He is trying to tell the people in general and India Inc in particular that the economy is not just the hard numbers but also soft notions and emotions of intrinsic belief in its resilience, its capacity to surge back to the top. He is comparing the current scenario with the past performance and is insisting that the situation is fairly good and holds promise of returning to the top.

 

In other words, as Mr. Modi asks India Inc to make bold investment decisions, he is prodding them not to slip into a safety mode without reason. ‘Come on, take bold decisions. That will propel the economy to better days’, he means to suggest. This is a huge psychological effort that is leading to success. For, in the past some time, the language of India Inc appears to be changing for the better. Business and industry have begun looking at the brighter side of the picture and recognising possibilities and potential hidden beneath the surface. There is certain positivism in the air and certain hope and promise that things have to be seen in the right light.

 

There is a slowdown, no doubt, but it can be reversed with fight, focus and faith, Mr. Narendra Modi seems to suggest in clear terms. He and his Cabinet colleagues are on a campaign of resurrecting the popular mindset from certain defeatism. They want to pump confidence into the psychology of India Inc. This may not be an easy task to achieve, but the Prime Minister seems to moving closer to succeeding in his new mission. After all, he realises that even the economy needs psychological push.