India Inc banks on PM Modi for turning around economy

Congratulating Narendra Modi on becoming the Prime Minister, India Inc on Monday said it is looking forward to an era of renewed trust and expressed confidence that the nation will leapfrog into a higher orbit of growth creating 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.

Narendra Modi was sworn-in as the 15th Prime Minister of the country today at the majestic forecourt of Rashtrapati Bhawan. Rajnath Singh, Sushma Swaraj and Nitin Gadkari were among those who took oath as cabinet ministers.

"We look forward to an era of renewed trust and governance that will inspire enterprises and youth in meeting societal needs and aspirations," Ficci President Sidharth Birla said.

"Building business confidence, creating job-enabling environment, mitigating food inflation and improving nutrition & sanitation, should be top priorities for the government," 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 congratulate India's Governance and Development driven Captain Prime Minister Narendra Modi to lead the nation into an era of exceptional and high quality, sustainable 10 per cent growth," Assocham President Rana Kapoor said.

"The re-engineering of the entire government machinery at the top with a sharp reduction in the number of Council of Ministers will considerably reduce the inter-ministerial conflicts and speed up decision-making," he added.

Indo-American Chamber of Commerce (IACC) President Chella Srinivasan said: "We pledge our whole-hearted support not only in building a new India but also for consolidating the growing Indo-US business partnership, which can bind more closely the two largest democracies in the world."

"All eyes are now set at the highest standards of the governance promised by Narendra Modi and his team with hope that it would deliver the desired results and uplift India from its current state of affairs, politically, economically and socially," PHD Chamber of Commerce President Sharad Jaipuria said.