Cautiously optimistic at Davos, India's business leaders say people in watch mode for elections

Davos: As the World Economic Forum annual meeting draws to a close, Indian business leaders say their main takeaway would be cautious optimism about their country, even as the upcoming general elections and evolving political scene seemed to dominate India discussions at this global gathering.

This year's WEF meeting, which is being held against the backdrop of a slow global recovery, has a large Indian delegation in attendance.

"There is enough optimism about India. Therefore, I don't think that India story is dead at Davos," diversified group Mahindra & Mahindra's senior executive, Pawan Goenka, said.

"In fact when I talk about India, there is this whole feeling that India has taken a back seat at Davos. But I did not see that," stated Mr Goenka, who is executive director and president of the automotive and farm equipment sectors of the group.

Discussions about the outcome of upcoming polls and the advent of Aam Aadmi Party (AAP) were major talking points.

"Everyone is more positive about economic recovery in different markets and there is an increasingly positive mood in Davos this year. About India, everyone is waiting for the elections and people are in watch mode," Tata Consultancy Services' CEO and managing director, N Chandrasekaran, told PTI.

"What I am telling the Indian ministers here is that they should use platform like Davos to tell the world about their showcase projects that they have delivered," Hinduja Group's Prakash Hinduja said.

According to Mr Hinduja, who is a noted businessman, there is a perception the Indian government has done little, but that is far from the truth as government has indeed done many things.

Global real estate consultancy Jones Lang LaSalle's (JLL) India head Anuj Puri said the mood about India is "something like subdued optimism or dissatisfied optimism".

Participating at the WEF meeting, Commerce and Industry Minister Anand Sharma had said foreign investors continue to remain bullish on India and government's steps to fast track project clearances have given a boost to the growth story.