CII has hailed the reelection of Prime Minister Narendra Modi with a decisive majority.
A focused and comprehensive agenda for addressing corruption has delivered outstanding results in the last five years. Game-changing reforms such as introduction of Goods and Services Tax (GST), Insolvency and Bankruptcy Code, lowering of tax rates for small enterprises, ease of doing business and so on have created the right environment for industry to flourish, a CII press release said.
In addition, notable policies for easing FDI, improving the intellectual property regime, creation of new investment vehicles and others have been instituted. Spectacular achievements such as Jan Dhan Yojana, distribution of gas cylinders, complete electrification of all villages, construction of 1.5 crore houses, quick progress in roads and highways, and many others clearly show the dedicated commitment of the Government to rapid development and the scale and efficiency of its work, according to CII.
The industry body’s president designate Uday Kotak said: “CII wholeheartedly welcomes the strong election mandate which clearly reflects the aspiration of the people for a quick and constructive development agenda.”
Under the visionary leadership of Modi, he said, India stands at a massive turning point in its historical development journey in his next term. CII greatly looks forward to working with the incoming Government on its reinvigorated economic roadmap to make India a $5 trillion economy in the near future, he said.
Describing Modi’s victory as historic, CII president Vikram S Kirloskar hoped that the decisive election results will propel India’s growth pace to the next orbit and drive the transformation of the country. “Over the last five years, the Prime Minister has brought in innovative mega missions that have changed the lives of hundreds of millions of citizens, driving a new template for development. With the mandate for another five years under his visionary and strong leadership, the transformation of India is on the fast track,” Kirloskar pointed out.
With India’s international leadership greatly strengthened by Prime Minister Modi, the country is already at the high table of global affairs. The massive victory further adds to India’s global direction and position, he said.
Chandrajit Banerjee, Director General, Confederation of Indian Industry, said the overwhelming mandate of the world’s largest electorate is clearly fordevelopment. Today, India stands at a landmark cusp of history, where it is ready to make this India’s century.The clear election mandate strongly reflects the aspirations of the people of India for continued progress and development, he said.
Prime Minister Modi’s strong and decisive governance has addressed corruption at the roots and created a sound business climate. Robust ongoing reform process with landmark policies such as GST, Ease of Doing Business, Make in India, Ayushman Bharat and so on greatly increase investor and consumer confidence. The massive and decisive win unleashes a new wave of growth. Industry is very excited about this magnificent victory, Banerjee said.
At the global high table, he said, this is truly India’s moment. Under Prime Minister Modi’s decisive leadership, India has captured the attention of the world and its brand image will only strengthen in coming days. “The election results will reinvigorate the strong and constructive Government-industry partnership and dialogue for growth built by the Government in its previous term and CII pledges to reinforce its policy advocacy and growth initiatives,” the CII DG added.