Modi’s tech infrastructure fervour on the back of Obamamania

Transcript

World Finance speaks to Nigel Eastwood, Group CEO at New Call Telecom International, on what infrastructure demands Narendra Modi must make to achieve single or even double digit growth.

World Finance: As you know, at an investment summit in Gujarat, US Secretary of State John Kerry was joined by Narendra Modi at this event. It was said by Modi that India was a land of business opportunities. We’ve all seen the Obama-mania like fervour that followed him after this election, but now the dust has settled. Do you think he’s really going to deliver from the telecoms perspective?
Nigel Eastwood: It’s not going in and doing kneejerk policy change for the sake of it. Not doing some dramatic changes immediately that could have implications for years to come. It’s about sustained policy change in a very very organised and structured way, and that came over and I do see that very much now in the way that the policy and reform changes are being delivered.

I would really encourage European ministers to travel more to India

World Finance: Nigel, this government as we said is very much interested in foreign direct investment, but to shore up more support it’s got to make some specific changes. Tell me about some of them that you’d like to see come into play in the next few months, in the next few years.
Nigel Eastwood: Well let me talk specifically about the fibre-optic backbone that is absolutely essential for the telecoms sector right now, that national fibre-optic network strategy. Who puts a dollar on the table is a very very critical question to be answered. We’re very reliant from our perspective that government actually funds that.

Public-private partnership is going to be some of the answer, but we’re very much hoping that the government really put that dollar to great effect now, it needs to go in now for us to see India get to the 500 million subscriber base that the government so much want.

World Finance: India, when you’ve got the Americans and Europeans looking closely on investing there, do you think that European government officials are doing enough to encourage India and other emerging markets to embrace change, infrastructure needs being just one of them?
Nigel Eastwood: I would really encourage European ministers to travel more to India. We’ve seen some great showcases very recently with the recent Obama visit and Mr Modi travelling and spending time very recently in the US. That’s been very high profile. There’s not been as much of that travel from our European counterparts.

I’d very much encourage people from Europe to travel there, understand what the opportunities are and how we can embrace them more.

World Finance: How much would Europe stand to lose if it doesn’t aggressively push for more treaties, stronger entrenched relations with Indians?
Nigel Eastwood: It’s absolutely key in Europe. We must not lose sight of what’s happening in emerging markets, and particularly in India. India is outpacing very much China in its adoption of new technologies. Mr Modi is very focused on manufacturing and manufacturing excellence in India. We need to embrace that, we’re going to miss the boat.

World Finance: Sobering reality check there, Nigel Eastwood thank you so much for joining me today.
Nigel Eastwood: Thank you.