Ficci calls for political consensus to sustain reforms

India's image will improve only if we sustain the reforms

With the political situation in the country becoming critical on the question of economic reforms, Industry association Ficci today urged the political parties to rise above party politics and unite for the nation with an issue based politics.

The chamber further said that India's image will improve only if we are able to sustain the reforms measures announced last week.

The government had in the last week announced steep revision in Diesel prices and then announced opening of sectors like Multi-brand retail, Aviation and Power to Foreign Direct Investment.

Following these economic reforms’ announcements, political situation in the country has seen unstability with the Trinamool Congress pulling back from the ruling coalition on Tuesday evening.

“We urge our entire polity to stand united behind what are widely seen as positive measures which will benefit the grassroots,” Ficci president RV Kanoria said while addressing a press conference.

When asked if the government should roll back the announcements if the political situation pushes the country to a mid-term election, he said that a government that cannot take decisions is like no government at all.

At the same time, secretary general of Ficci Rajiv Kumar and ficci vice-president Sidharth Birla said that the next stage of reforms should mean “ease of doing business” by reducing bureaucratic red tape.

“Currently, it takes at least 17 clearances to start a business in any state,” Kumar said.

When asked about the prospective investors as very few states have agreed to the FDI in Multi_brand retail proposal, Kanoria said that some states in the country are larger than many countries. “So, even if one state agrees, it will attract investment,” he said.