In what is a huge indictment of the Modi government, top industry leader Deepak Parekh has said that impatience has begun creeping in among businessmen as nothing has changed on ground in first nine months of the Narendra Modi government.

He said the industry is still optimistic about the changes it expects from the Modi government, but optimism is not translating into revenues and there has been little improvement on 'ease of doing business' front so far. Parekh, who is known as a guiding voice of the Indian industry and has been on a number of key government panels on various policy and reform matters, further said that 'Make in India' can't succeed unless it is made easier for people to do business here and the decisions are fast-tracked.

He was among the first industry leaders to openly criticise the previous UPA Government for "policy paralysis" after a spate of scams led to decisions getting delayed within the government and business began getting hurt.

"The thing is that our Prime Minister had a lucky period in these nine months. The world commodity prices are at all-time low which help India the most," Parekh said.

Stating that India is again at a position when everyone is looking at it with high hopes, he said, "I don't see ease of doing business changing so far." Parekh cited the example of delay faced by his own group's HDFC Bank, the country's top private sector lender, with regard to approvals required for raising of funds, including from overseas.