Corporate India says ‘building business confidence, creating job-enabling environment and mitigating food inflation should be top priorities for the govt; Adds that a lean team would definitely lead to effective governance
New Delhi : India Inc on Monday expressed hope that the new government under Prime Minister Narendra Modi will take necessary action to build business confidence, revive economic growth, create more jobs, income and social stability.
“Indian industry would build on its association with the Prime Minister to forge an extensive partnership with the new Government and facilitate a conducive climate for growth and investment,” CII Director General Chandrajit Banerjee said. “We are delighted to see a lean team. A lean teamwork would definitely lead to effective governance,” he added.
Mahindra & Mahindra CMD Anand Mahindra, who could not make it to the ceremony as he was out of the country, wrote on micro-blogging site Twitter: “We congratulate our new Prime Minister & his cabinet. The Mahindra Group pledges to put its collective shoulder to the wheel. Let’s get moving”.
“We look forward to an era of renewed trust and governance that will inspire enterprises and youth in meeting societal needs and aspirations,” said Sidharth Birla, president of the Federation of Indian Chamber of Commerce and Industry (FICCI).
“Building business confidence, creating job-enabling environment, mitigating food inflation and improving nutrition and sanitation should be top priorities for the government. A collective resolution of these would help restore economic glory as much as bringing social stability and inclusiveness,” said Birla. “India needs national competitiveness and our progress on product markets needs to be matched by liberalisation of factor markets,” he added.
Industry chambers congratulated Narendra Modi on taking oath as the 14th prime minister of India. President of the Confederation of Indian Industry (CII) Ajay Shriram said: “We look forward to the new Prime Minister’s sagacious and astute leadership of the nation at a challenging period. CII also welcomes and congratulates the new Cabinet of Ministers which has taken charge.” Shriram said taking over of Modi as prime minister is a pivotal moment in the nation’s history that can shape the future of 1.2 billion people.
“At the current juncture, it is vital to revive the pace of GDP growth, bring down inflation, and create new jobs on a large scale. CII anticipates a quick and proactive agenda of economic and governance policies, including fiscal consolidation, fast-tracking of stranded projects, and sectoral initiatives for infrastructure, manufacturing, agriculture and mining,” he added.
Chella Srinivasan, national president, Indo-American Chamber of Commerce (IACC) said, “It is a defining day for India that a very stable government has assumed office, after a long lapse time. The track records of the prime minister and the council of ministers are impeccable as decisive and pragmatic doers.”
Srinivasan expressed hope that under the new government the country will leap-frog into a higher orbit of growth creating more employment, income and inclusive growth.
Modi can change course of dialogue on US visas: Murthy
Exuding confidence in Narendra Modi’s leadership, Infosys’ Executive Chairman NR Narayana Murthy said the new Prime Minister is “in a position to change the course of dialogue” on US visas for the over $118 billion industry.
“A strong and intense leader like Modi will be in a position to change that course of dialogue (US visa),” Murthy told NDTV.
Indian software-export giants like TCS, Infosys and Wipro rely on visas to send employees overseas to service clients in the US, its biggest market and changes in the visa norms will affect their margins.