India's economy warms in the after-glow of Modi's triumph. Invesco Investment Director Shekhar Sambhshivan says the shipping sector has seen a fantastic growth run.

SHOWS: HONG KONG, CHINA (OCTOBER 8, 2014) (REUTERS - ACCESS ALL)

1. INVESCO, INVESTMENT DIRECTOR, SHEKHAR SAMBHSHIVAN, SAYING:

SLATE: What are your views on India's 'big bang reforms'?

SAMBHSHIVAN: 'One needs to understand what exactly they mean by 'big bang reforms'. You know if you just look at the budget some people were expecting some high decibel, high number reforms possibly announced in the budget. There are 2 or 3 areas where the expectations were pretty high. One was on the GST, that was perhaps related to you know the retrospective of taxation implications and maybe a few other things which was not specifically you know tabled out. GST has its own issues related to the constitution amendment bill so it will take its own sweet time. The only thing is the government has put in its effort most likely as per the current time table it should be I think applica ble by April 2016. If that happens I think it will be a big positive itself. As regards the retrospective of taxation angle I think they have kept that way the reasons best known to them. Apart from that I think our interactions with the government, more specifically as I mentioned on the broker side is surely and more slowly on the mend. I think the responsive decision making is very clearly visible and in fact in certain quarters we understand that competitive decision making has also started which is going to be more beneficial in the time to come. So I think all in all if you are able to get the hardware act together for Indian bureaucracy I think policy announcements will happen and that will be a better way of leading it to the product dividends to the consumers.'

SLATE: What do you make of the earnings season for the shipping sector?

SAMBHSHIVAN: 'Surely on the earnings I think the sector has seen a fantastic growth run. In fact the whole export sector, both pharmaceutical as well as IT sector has done well on the fundamentals per se. I believe the growth, how it is for shipping up in the developing economies is surely helping. Currency obviously has its own place and more specifically how companies have shaped up their business models in whatever meeting of the challenges is obviously paying dividends so I believe it could be company specific, but by and large the sector should do quite well, both healthcare as well as IT sector in the time to come.'