Sometimes a strong magnetic field can keep one awake and thinking. This is the first time I've ever been this close to a Prime Minister, yes Narendra Modi and I were a few kilometers apart, while he was in Paris. But his visit made me think more about his role and tenure.
The title of this blog can be answered based on what the person does and performance he delivers more than the title he holds. Hardly 10 months in office and the former chai wala has spent INR 3.17 billion in travel expenses, 70% of cost of Mangalyaan (Mars - INR 4.54 billion) expedition. Though distance covered by Mangalyaan is much more compared to Mr. Modi's miles, but do benefits of his travel outweigh the space mission? Bottom line, can Modi be more than a successful business development professional?
Rolling out the red carpet
His expedition to 13 countries to re-establish trade ties, woo FDI and corporates to Make in India and mend our political equations with neighbors in Asia will be tagged as business development expenses in accounting parlance. From engaging countries to help us create smart cities, to sell defense equipments and nuclear raw material for power generation he has got all the stalled projects moving. Though for a common man this may mean little, but it is important for him to make this travel, connect with his counterparts across the world and cleanse his image and India's image. Though Modi may not be well educated to understand principles of economics or fluent in English as the former Prime Minister, but that hasn't deterred him from building trust, friendship and restoring confidence, a key quality required for every business development professional.
Modi and Moody: India's upgrade
His travel expenses is beginning to show a promising return on investment (ROI) and we as a nation are economically progressing. The Indian stock market has been one of the best performing in the world with the MSCI ETF (Inda) returning about 40% and Indian real GDP growth expected to surpass 8%, leaving China in the second place. Modi and Moody's have both upgraded India's sovereign rating from stable to positive by growing the FDI inflow by 26%. The HSBC Purchasing Managers' Index (PMI) zoomed to a two-year high of 54.5 in December 2014 showing robust orders from within and outside of India. To add to the tail wind, lowering of crude prices has reduced Indian inflation to a ten-year low and Indian’s foreign currency reserves at $334 billion—a record high.
Will first and then skill
Unlike India's most educated PM, Manmohan Singh (Oxford and Cambridge), who stayed in office for two consecutive terms not only lacked leadership, but also ability to convert his skill and knowledge into will to make India economically attractive. Ministers went unchecked and scam after scam perpetrated in every ministry (telecom, sports, natural resources and mining, etc.) taking governance to new lows.
Shrewd Modi, a school drop-out, has learnt from the mistakes of his predecessor and has kept the ministers and ministries under close watch to prevent scams that can quickly tarnish his reputation. While the former Prime Minister muted himself (MMS mode), Modi mutes his ministers that has not gone down well with his critics. Modi has indeed proved that a PM needs a strong will and leadership more than Ivy League degrees.
Attractive to Indians and safe for guests
While Modi is making India look attractive to overseas investors, there is lot more to achieve to make India livable and lovable for fellow Indians and guests. There are social, economical and political evils that he needs to fight. India still ranks low on other indices that measure poverty, malnutrition, literacy, infant mortality, child labor, women safety, etc. A strong and immediate focus is needed in the areas of education, health, infrastructure, agriculture, etc. to ensure safety and security of its citizens.
RSS and other extremist groups need to be kept in check from vandalizing churches, making belittling statements on women, religious minorities, and advocating family planning for Muslims and family expansion for Hindus; this is harming the image of secular India, and eroding the trust and trespassing personal space of people.
A successful CEO
There is no doubt that Modi is a committed business development professional who has delivered on his KPIs in the last one year, but a Prime Minister is the CEO of the nation. Some portions of India Inc. and overall public are beginning to get restless. Though opening of bank accounts, reducing subsidies, etc. are good first steps, but he needs a team that can run faster relay races.
Modi needs to redefine his role; he needs to appoint right people in his cabinet and trust them to do the job for him. He must stay on top and give instructions and monitor as opposed to micro managing them. Developing the next-line is mark of a true leader and that enables him to be a successful CEO and a popular leader. Mr. Modi, it's time to scale-up to the expectations of a 1.3 billion.
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