Yesterday, Prime Minister Narendra Modi launched the Make in India initiative with an aim to boost India's manufacturing sector.

The Prime Minister said that no Indian business should feel a compulsion to leave the country under any circumstances.

If this has to happen, then the current government has to create business friendly system to fuel faster growth of the economy. A retrospective tax system and a retrospective SC judgment would kill the investing climate which the current PM is struggling to achieve. In fact if things continue like this people of India may view the current government as old wine in the new bottle. There is a serious flaw in the system which needs to be repaired urgently. What we need is a good system and if we don’t build it then there would be brain drain from our system.

Currently the investor’s sentiment is affected owing to the poor systems of India which could affect the market in a short term. However as written several times bull market would digest all the bad news and move up but we will have to check up the bottom of the current meltdown. Let us  meet on Sunday and discuss more about it.