Hailing Friday’s election verdict, industrialists said that it would help boost investor sentiments and usher industrial reforms in the country.
In a statement after the elections results were announced at CII, Sector 31, on Friday, Confederation of Indian Industry (CII) president Ajay Shriram said that the outcome of the general elections would help revive growth and investor sentiments in the country.
Confederation of Indian Industry (CII) Northern Region and Building and Industrial Systems (India), United Technologies Corporation president Zubin Irani has said that a clear majority such as this was critical for economic stability and consistent policies.
“It is very healthy sign for the nation that National Democratic Alliance has got a full majority. This would enable strong and positive decision making at the top levels of the leadership in the country with minimum government and maximum governance,” he said. CBRE South Asia Pvt Ltd chairman and managing director Anshuman Magazine said that a gover nment not dependent on coalition partners may lead to faster decision making and economic reforms.
“If the GDP growth picks up, one of the early beneficiaries would be the real estate industry. However, economic fundamentals have to be tackled first: infrastructure projects should be implemented with a sense of urgency and housing mortgage interest rates would have to decline before we see any significant impact on the real estate market,” he said.
Rajiv Bali, PHD Chamber Punjab Committee chairman said, “With a clear mandate in place, we look forward to reforms in the basic infrastructure, with special thrust on research and development, qulaity education, rail road and air connectivity to augment growth.”