Indian business tycoons, expats in UAE hail Modi's resounding election victory

Indian business tycoons and expats in UAE hailed Prime Minister Narendra Modi-led BJP's resounding election victory on Thursday, saying they look forward to the continued focus of the government for the growth of trade and commerce in India.

"Modi's previous term made Indians living outside the country very proud. NRIs are very pleased with the return of the Modi government," said Kamal Vachani, businessman and Group Director of Dubai-based Al-Maya.

Dr B R Shetty, founder of NMC Healthcare, said with the Modi government coming back to power, "black market will be completely wiped out" from the country, the Gulf News reported.

Joy Alukkas, chairman and managing director of the Joyalukkas Group, said as an entrepreneur he "look forward to the continued focus of the government for the growth of trade and commerce in India".

The positive response of the Sensex post announcement of the election results is surely reassuring for trade, commerce and businesses in India, he said, expecting some "great initiatives" for the gold and jewellery industry in the next five years.

Vasu Shroff, chairman of the Regal Group of Companies, expressed hope that the new government fulfil the needs of the lower segment of the society.

"They have basic needs for good education, electricity, clean drinking water, houses, roads," he said.

Rizwan Sajan, founder and chairman of the Danube Group, said the results clearly showcases the "outstanding performance" of the NDA government in the last five years.

"The NDA government's infrastructure push and its efforts to strengthen 'Brand India' is one of its biggest achievements. Also, I would like to thank the government for simplified tax structures and an easy tax administration which helped many brands like us to enter Indian market to generate more business and provide employment opportunities," he said.

Dhananjay Datar, CMD of Al Adil Trading, said Modi has done much to put India on the global map.

"We as Indians can look at investment opportunities anywhere in the world with the confidence that we are recognised," he said.

Ram Buxani, chairman of ITL Cosmos Group, said Modi's re-election shows a "more stable India".

However, he said, some of Modi's achievements have been short-lived.

Citing examples, he said, "We have a long way to go as far as infrastructure is concerned. Water transportation is an area that requires much thought to be given into...Our ports too are not very developed. Exports are hampered."
Sreedhar Bevara, General Manager at Panasonic, said, "Last five years, the foreign policy has been best in decades and my pride being an Indian is shining while representing India outside."