CII lauds Modi govt, says Indian economy strong, reforms on track

CII Director General Chandrajit Banerjee said the government has systematically addressed major pain points for the economy

As the BJP-led NDA government completes four years in office, industry chamber CII on Friday said India's economy is robust with the GST having settled down and reforms firmly on the right path.

The government is set to enter the final year of its term before the 2019 Lok Sabha Elections on May 26.

In a statement, CII Director General Chandrajit Banerjee said over the last four years, the government has systematically addressed major pain points for the economy such as ease of doing business, non-performing assets of banks, foreign direct investment rules, infrastructure construction and exit of failing enterprises.

"The business atmosphere now incentivises investment activity and offers relief to firms. The government's mission mode development campaigns have delivered notable results, adding to overall growth multipliers," Banerjee said.

"The overall economy is strong with GST having settled down and reforms firmly on the right path," he added.

Moreover, Banerjee said the firm level and sectoral level numbers look promising for the next year in terms of orders booked and capacity utilisation.