Current AffairsIndia

LS mandate: India Inc welcomes Modi govt with a hope of business-friendly reforms

New Delhi, May 23 (GCCurrentAffairs) With a clear mandate to BJP-led NDA in the just concluded Lok Sabha elections, Indian business diaspora welcomed the decision of the people and congratulated Prime Minister Narendra Modi for a landslide victory.

Indian Chamber of Commerce president Rudra Chatterjee congratulated the BJP under the leadership of Prime Minister Narendra Modi for winning a clear mandate for continuation of government.

“Policies undertaken by the government have delivered fast economic growth, increased foreign investment and significantly eased the process of starting and doing business. With a big mandate comes big responsibility to meet the expectations of people across the nation from the new Government,” he said.

He also added, “In our view, the immediate priority should be given to propelling the Indian economy including enhancing investment expenditure, creation of jobs through the private sector, addressing rural issues, and in keeping fiscal deficit under control.”

“We hope that the government will immediately start in implementing more reforms like increasing liquidity to the financial sector, reducing the GST slabs, undertaking land and labour reforms, continue major infrastructure projects, and encourage more private sector investment in the economy,”he said.

“We congratulate BJP for winning the mandate in the general election 2019. In the last 5 years, the government led by Mr Narendra Modi has initiated many programs in order to fight the menace of air pollution. We hope that the government would undertake and resolve several long-awaited issues that are required to give impetus to India’s dream of clean mobility by 2030,” said Society of Manufacturers of Electric Vehicles Director General Sohinder Gill.

Tech Mahindra MD & CEO C P Gurnani in a statement said, “Spearheading the world’s largest democracy is no mean feat, so congratulations to the winning team. It is time for us to drive positive change by leveraging digital technologies and embolden India’s collective dream of becoming a five trillion dollar economy. This also underscores the massive task that lies ahead of us – of shaping India’s future. It’s time for each one of us to step-up, collaborate and contribute towards the great India dream.”

While, Upstox CEO & Co-founder Ravi Kumar said, “The positive market movement is in line with investor expectation that a stable regime will return. The unanimous verdict in favour NDA- led government will help boost investor sentiment as a stable regime enforces better implementation of policies. Even as global markets remain volatile due to rising geo-political tensions, India is expected to be a favorable investment destination. Markets are likely to go for a bull run given that the business-friendly policies and structural reforms initiated by NDA government in the last few years are bound to gather pace”.

In a statement, CBRE Chairman and CEO, India, South East Asia, Middle East and Africa
Anshuman Magazine,said,”A stable, forward-looking government goes a long way in building a robust economy which in turn will further strengthen India Inc. From policy overhauls to amendments in the older acts to ensure that these acts are relevant in today’s times, the foundations laid down by the Government during its last tenure will bear fruit during this term and will further boost the growth of the country. ”

“CBRE is committed to bringing the best real estate consulting services to India and are positive that the elected party will further work towards strengthening the Indian economy and successfully implement the promising schemes and programs,” he added further.

“The general election results are almost out now and the electorate has given a clear & decisive mandate to Prime Minister Modi. It is very important to have a stable government at the Centre which can derive the country into a strong economic growth.

“The pace of much needed reforms in various sectors will gain pace & the growth rate will accelerate,” said Mr. Lav Kumar, Head- Product & Business Development at LIC Mutual Fund.

“All India Gem & Jewellery Domestic Council welcomes the electorate verdict of the people of India resulting in an emphatic mandate for Hon. Prime Minister and his party-coalition partners thereby leading to stability & continuity in governance. GJC looks forward to a truly transformational journey for our economic ecosystem and seeks upliftment of lakhs of karighars/ craftsmen/ entrepreneurs involved in the truly Make in India gold & jewellery businesses,” said Mr Anantha Padmanabhan, Chairman, All India Gem and Jewellery Domestic Council (GJC).

“We are hopeful that the Government’s initiatives to drive consumption economy by strengthening fundamentals/ sentiments and ease of doing business will inject new energy and enthusiasm into our businesses. GJC hopes that the Government will add more glitter to the centuries old gold jewellery business that is part and parcel of every Indian’s life even today,” he added.

Metropolitan Stock Exchange Interim CEO Balu Nair on election results said, “The mandate offers a clear vote for policy continuity. Markets will respond with lower volatility and higher volumes, especially in the indexes.
The RBI Governor can now pursue the growth agenda unfettered. He has been remarkably prescient with both his Dollar Swap and in calling for exotic derivatives. The stage is now perfectly set for both. The stage is equally set for developing the Fixed Income and Debt Derivatives market and drive growth up by at least 3 percentage points up for the medium to long term.”

Via UNI-India

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