Looking at implementation aspect rather than policy: Pankaj Pandey, ICICIdirect.com

In a chat with ET Now, Pankaj Pandey, HoR, ICICIdirect.com, shares his views on impact government policies on markets. Excerpts:

ET Now: Prime Minister Modi in his first Independence Day speech did mention that India needs to work a lot on manufacturing. How should one take cue from that and what does that mean for individual manufacturing stocks?

Pankaj Pandey: We have recently visited model village which is in Gujarat. The key takeaway is they we have ample policies on the ground. What is required at this point in time is execution.

This particular village for example, they have done a development of about odd 14-15 crores by sheer implementation of both central as well as state government policies. So going forward, the implementation would be a key factor to watch out and at this point in time.

It is too early to give green flags or red flags from an implementation perspective. Over the next one or two years, one should really look at how the government does on the implementation front and that is what is required. So rather than policy, we are focussing on implementation aspect.