Economy to witness rapid transformation under Modi 2.0: India Inc

India Inc Thursday said India will witness a rapid transformation under Prime Minister Narendra Modi's visionary leadership and hoped that landmark reforms in key areas like taxation, labour and land will be taken to boost economic growth.

Riding on a huge mandate, Modi was sworn in on Thursday as prime minister for a second term, heading the National Democratic Alliance government, in the presence of a large gathering of national and international dignitaries.

Besides, there were 57 others, forming a council of ministers, who took oath.

Several leading industrialists, including Reliance Industries CMD Mukesh Ambani, Adani Group Chairman Gautam Adani, Vedanta Resources Limited Executive Chairman Anil Agarwal, Chairman Emeritus of Tata Sons Ratan Tata, Mahindra Group Chairman Anand Mahindra, Paytm Founder and CEO Vijay Shekhar Sharma, Welspun Group Chairman and Assocham President B K Goenka, attended the swearing-in ceremony.

"It was an honor to be at the swearing-in ceremony where PM @narendramodi & host of ministers took oath. I'm confident that new measures will be taken to boost economic growth, make environment more conducive for FDI - including mining, raise spend on social sector & end poverty," Agarwal tweeted.

"Congratulations to PM Shri @NarendraModi ji for his second term in office. I also extend my warmest congratulations to the newly elected Council of Ministers. I am sure that in this term too, India will witness rapid development and transformation under PM's visionary leadership," Essar Group Director Prashant Ruia tweeted. Expect renewed vigour in economy under Modi 2.0: India Inc