Industry upbeat on Modi 3.0: CII, FICCI, Assocham expect reforms to continue

The Bombay Stock Exchange (BSE) logo on barrier tape at the bourse in Mumbai, India, on Thursday, Jan. 20, 2022. MUST CREDIT: Bloomberg photo by Dhiraj Singh.

New Delhi [India], June 10: Industry leaders have extended their congratulations to Prime Minister Narendra Modi who assumed office for a third consecutive term and expressed confidence in the government’s ability to continue economic reforms and sustain the country’s growth momentum.

“Building upon a strong growth rate of 8.2 per cent for 2023-24, the new Government under his visionary leadership can usher in the next phase of reforms to make the most of the global opportunities and build on the robust fundamentals of the Indian economy,” said Sanjiv Puri, President of the Confederation of Indian Industry (CII).

Industry leaders are eager to collaborate with the new government in various sectors, he added.
“As India continues to think and act ‘big’ under Modi Ji, continuity in the reform agenda will carry India forward on the path to becoming a developed nation,” said Chandrajit Banerjee, Director General, CII.
They are optimistic that the third term of the Modi government will ensure the continuation of progressive reforms and a strong foundation to achieve the goal of Viksit Bharat by 2047 will be laid down.
“The third consecutive term for the NDA paves way for continuity in the reform agenda. We look forward to progressive policies and measures that will foster economic and social development and build a strong foundation for ‘Viksit Bharat’,” said

Anish Shah, president of the Federation of Indian Chambers of Commerce and Industry (FICCI), said, “As India looks towards becoming the third largest economy, a stable government at the Centre will further strengthen the economic landscape and help us achieve this feat within the next few years.”

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) said it was confident that under PM Modi leadership, “India would go from strength to strength gaining further stature in the global ranking, powered by inclusive and sustainable economic growth for the next several years”.

Deepak Sood, Secretary General of Assocham, said, “With your taking oath as the Prime Minister for the third term India Inc. is feeling confident that with under (sic) leadership the country will be steered to greater heights, maintaining the fastest pace of growth amongst the major economies of the world.”

Earlier on the morning of June 10, the Indian stock market indices Nifty and Sensex, touched all-time highs and registered record gains during the opening session. The BSE Sensex crossed the 77,000 mark for the first time following the rally as PM Modi took charge in office. According to the market experts, a smooth transition in the government formation seemed to have boosted market sentiments.



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