Industrialists hail Modi’s resounding election victory

Shivani Bhakoo

Tribune News Service

Ludhiana, May 24

It’s raining good news for the local industry which is upbeat over the landslide victory of Narendra Modi. They believe that even major steps like demonetisation and GST failed to put a dent in the vote bank of Narendra Modi.

Talking to the Tribune, SC Ralhan, former president, FIEO, said BJP government at the centre was a good indication for the industry. “The contradictory results would have been disastrous for the economy otherwise. A look at the Sensex figures show how stock market has welcomed the stable government with a majority. It has crossed the 40,000 mark.”

He also added, “We feel that FDI will come back now. The ease of doing business has already been proven by the Modi Government and it will further bring transparency and improvement. When there is transparency, one will grow. Industry is expected to bloom under the BJP’s regime,” said Ralhan.

“Had there been other parties, no important decision could be taken as we witness that hung governments never prove to be successful for the market. I hope that shortly, we will achieve high levels of growth, even in global map,” said Ahuja.

The industrialists feel that if the GST regime is streamlined in the next few months, then India will see a major growth. Avtar Singh Bhogal from Bhogal sons and member of UCPMA said the implementation of GST is a good step taken by the BJP, if the system is streamlined and slabs of GST are reduced in the tenure of BJP, then in the next elections, the party is expected to certainly cross a 400 mark,” said Bhogal.

Meanwhile, Mohit Aggarwal, an income tax professional said, “There is a strong belief of the nation in the historic mandate. We voted for a corruption free and a development oriented governance.”

Congratulating the Prime Minister Narendra Modi on his win, FIEO President Ganesh Kumar Gupta said the charismatic and dynamic leadership of Modi has not only given a resounding victory but has created a strong mandate for his developmental agenda.