Indian Prime Minister Narendra Modi's recent visit to the United States has resulted in significant developments and potential partnerships in various sectors, paving the way for future growth and collaboration between the two nations. Several prominent figures from India's business community have expressed optimism about the outcomes of the visit and its potential impact on India's economy.

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Ashish Chauhan, CEO of the National Stock Exchange (NSE), acknowledged the positive effects of PM Modi's visit on the Indian stock market. Chauhan said, “Nifty touched 19,000 today, and it is a great moment for India. But it is also a reflection of Mr. Modi's visit to US and the outcomes."

He recalled that India was never part of the strategy orbit of US or western countries but now the United States is considering India as a partner in cutting-edge technologies such as 5G, 6G, quantum computing, space exploration, and other high-end tech fields.

Sanjay Nayar, former CEO of KKR India Partner, expressed his optimism regarding the emerging positive partnerships in the tech sector as a result of PM Modi's visit. One of the key strategic moves highlighted by Nayar was the Prime Minister's outreach to companies, policy-makers, and think-tanks.

“He had really been pragmatic and practical and there is obviously an equation that is there between Indian and the US people, but more than that his personal zeal and zest to go reach out to diverse set of people I think it is building a different kind of bond and frankly these kind of technologies come to you only when you have a huge amount of trust and understanding between each other.”

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Additionally, Nayar noted that the Indian government's substantial investments in infrastructure are driving both investment and consumption, which, in turn, contribute to economic growth. He concluded by stating his expectations of Indian markets continuing to rise as more investments and increased consumption fuel growth.

Nilesh Shah, Managing Director of Kotak Mutual Fund, highlighted the positive sentiment towards India following PM Modi's visit to the USA. Shah stated, “Sentiment is positive towards India because there is hardly any country which has as strong macroeconomic foundation as India has today.”

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While the stock markets may have reached all-time highs, Shah noted that valuations are not necessarily at all-time highs. Comparatively, Indian valuations are only slightly higher than those of its competitors, leaving room for further growth.

However, Shah emphasised the importance of India delivering on its promises of superior governance standards and green transformation to sustain the positive.

“Today investors are paying premium to enter India because they expect 3G from India - growth, governance and green transformation. As long as India delivers on this 3G I think our markets and economy both will do well.”