Industry welcomes NDA win; seeks more reforms to accelerate growth

Industry has welcomed the “decisive victory” of the NDA as election results started coming out on Thursday calling the result “a win for India” while asking the next government to extend its reform agenda to new areas land and labour laws and focus on increasing investments.

“The sweeping referendum truly redefines the destiny of the country and makes this India’s century.” said Vikram Kirloskar, President - CII. Kirloskar added that the result was a “win for India, a win for India’s people, a win for India’s development.”

FICCI President Sandip Somany also highlighted the benefits of continuity at the centre. “The continuity and stability at the centre will not only allow the government to continue with the pace of reforms set by GST, IBC and RERA, but it also brightens the chances of extending the reform mode to other critical areas like land and labour laws,” said Somany.


Somany also called for the government to “tackle liquidity and credit issues given domestic and global challenges."

ASSOCHAM President BK Goenka echoed calls for easing of interest rates, stressing that the ecoonomy was poised for higher growth.

“With inflation expected to stay benign, and growth set to move higher with the help of lower interest rates, we would soon be in a sweet spot, thanks to a decisive leadership.” said Goenka.

Goenka also said that the strong government at the centre would drive foreign investment to India and highlighted the impact of government initiatives in the past five years.