India Inc says time for transformation

India Inc says time for transformation
Highlights

India should aim to achieve its ambition to become a global superpower, say industry leaders

New Delhi: India Inc on Thursday said BJP-led NDA's stupendous performance in Lok Sabha polls is an endorsement of Prime Minister Narendra Modi's decisive leadership, asserting that NDA 2.0 must unleash bold initiatives to transform the economy.

Several corporate honchos, including Anand Mahindra, Adi Godrej, Anil Agarwal and Sunil Mittal cheered as trends pointed towards the BJP and allies returning to power with a thumping majority, saying it was the time for deep reforms entwined with India's ambition to emerge as a global superpower.

"The government will now re-ignite its reforms agenda to push growth, tackle critical issues like creating more jobs, usher in more tax-friendly laws, strengthen India's position in global trade while protecting domestic industry from dumping and create more conducive environment to attract FDI in critical segments like mining and Oil & Gas," Vedanta Resources chairman Anil Agarwal said.

Bharti Enterprises founder & chairman Sunil Bharti Mittal said the phenomenal mandate clearly underlines the nation's unambiguous confidence in Prime Minister Modi's decisive and visionary leadership.

This solid verdict would further strengthen his resolve to drive forward the economic agenda to ensure that the fruits of the economic momentum continue to reach the poor, so visible during the last five years, he added.

Mahindra Group chairman Anand Mahindra said that Modi is set to become the most powerful democratically elected leader in the world after the thumping win.

"Size of the country (Land mass+population) X Size of the Economy X Size of the election mandate = Leader's Power Quotient.

By the measure of this crude formula, @narendramodi is about to become the most powerful, democratically elected leader in the world today," Mahindra tweeted.

CII Director General Chandrajit Banerjee termed the verdict as a mandate for development and said, "The election results will reinvigorate the strong and constructive government-industry partnership and dialogue for growth built by the government in its previous term"

In a blog post, Biocon chairperson and MD Kiran Mazumdar-Shaw said the NDA 1.0 succeeded in formulating a five-year strategic plan which has been well appreciated by the country as is evident from the poll results.

"Therefore, NDA 2.0 must focus on the implementation of this plan in order to unlock opportunities for inclusive economic growth.

Over the next five years NDA 2.0 must introduce policies that are bold, innovative and transformational to translate the economic potential into prosperity for all," she said.

Dalmia Bharat Group MD Puneet Dalmia said, "The results are a clear indication that the country and its people are all for progress and stability."

Terming the NDA victory as a "strong mandate for continuity", JK Organisation Director Harsh Pati Singhania said, "I hope the government will redouble its efforts and continue the process of economic and social reforms and build on the strong foundations laid in its first term."

PHD Chamber of Commerce and Industry (Phdcci) president Rajeev Talwar said the majority mandate has laid a heavy responsibility on the government to take unprecedented economic and social decisions that will transform the Indian economy from its current size of $2.6 trillion towards a growth rate of 8 to 10 per cent each year in the next five years.

RPG Enterprises chairman Harsh Goenka said the resounding victory of BJP reinforces voter's choice of their most able leader to lead the nation.

"Markets got off to a roaring start, reflecting the sentiment of the nation. Unfinished agendas will get continuity and time to usher in prosperity and growth, both for Bharat and India," he tweeted.

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