LAS VEGAS-In an expansive interview at RECon 2014, Anuj Puri, chairman and country head of JLL in India, discussed the problems and the promise of the country's political and economic turmoil. A new government is now in place, and a new prime minister, Narendra Modi (NaMo), is making all of the right promises, said Puri, including a new-broom approach to governmental inaction. The new government, Puri indicated, is also “very pro-business.”
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But as he explained, the government was in place for literally days when RECon convened, so any positive effects from a leader promising reformation had yet to be felt. In the meantime, India's struggling economy and restrictions on foreign investment are still problematic. However, its now-booming equity markets, which have turned around the corner since NaMo came to power, do herald the coming of good times in the future.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
