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Clear majority and stability healthy sign for nation, CII says

LUCKNOW: The industry body, Confederation of Indian Industry (CII), is expecting the new government to revive business confidence, fast track infrastructure projects and implement reforms after BJP getting clear majority. CII has congratulated BJP led by Narendra Modi for coming out as the single largest party and attaining clear majority to form a stable government at Centre.

“It is very healthy sign for the nation that NDA has got full majority. A clear majority is always critical for political and economic stability as also for consistency of policies. This would enable strong and positive decision making at top level of leadership in the country with ‘minimum government and maximum governance’ to boost investor sentiments”, said Zubin Irani, chairman, Confederation of Indian Industry (CII) Northern Region and president, Building and Industrial Systems (India), United Technologies Corporation.

CII expects that the new government would work to revive business confidence and attract investments especially in healthcare, education and knowledge-based industries. It should also put special thrust on timely implementation of reforms, fast-tracking of the stalled infrastructure as well as manufacturing projects, removal of various procedural bottlenecks associated with key industrial and freight corridors like Amritsar Kolkata Industrial Corridor (AKIC), Delhi Mumbai Industrial Corridor (DMIC), western and eastern corridors to provide the much-needed fillip to growth in North India,” added Irani.

“CII hopes that the new government would de-bottleneck the regulatory environment, focus on technology up gradation, invest in infrastructure and eradicate supply chain bottlenecks in agriculture to remove wastages and check food inflation. To create conducive environment to attract investments, the new government should ease labour laws to promote job creation, implement GST, strengthen the single window mechanism and enhance ease of doing business”, said Shreekant Somany, deputy chairman, CII NR and CMD, Somany Ceramics Ltd.

Sachin Agarwal, Chairman CII UP State Council & MD, PTC Industris said that CII expects that the new Government would remove the ‘policy paralysis’ and accelerate reforms on priority basis with focus on growth oriented governance. If there is growth, there will be employment, inclusively, development and prosperity. The new government should work towards removal of inter-state trade, taxation and travel barriers across states for holistic development of the various regions.


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