Modi govt 3.0 can usher in reforms towards Viksit Bharat: India Inc

With Prime Minister Narendra Modi taking oath for the third time, India Inc on Monday expressed optimism that the new government under his leadership can usher in the next phase of reforms to achieve the goal of Viksit Bharat.

Several corporate leaders posted congratulatory messages on X, formerly Twitter, after Modi was sworn in as Prime Minister at the Rashtrapati Bhavan on Sunday, becoming only the second PM after Jawaharlal Nehru to secure a third consecutive term.

Vedanta Group Chairman Anil Agarwal tweeted, "Congratulations to @narendramodi ji on being elected Prime Minister of India for the third consecutive time. Bharat has crossed many milestones under your visionary leadership. We are confident that the country will continue on its remarkable growth trajectory!".

In a post on X, JSW Group CMD Sajjan Jindal said: "Congratulations @narendramodi ji on assuming office as Prime Minister for the third time, a feat last achieved by Nehru ji. With new cabinet, I am optimistic about the continued progress & development of our nation. Together, let's build a stronger & more resilient economy".

Mahindra Group Chairman Anand Mahindra also congratulated Modi.

"Hope the new term will prove to be important for the development and prosperity of India," he said in a post on X.

CII President Sanjiv Puri in a statement said building upon a strong growth rate of 8.2 per cent in 2023-24, the new government under Modi's leadership can usher in the next phase of reforms to make the most of the global opportunities and build on the robust fundamentals of the economy.

CII Director General Chandrajit Banerjee said as India continues to think and act 'big' under Modi, continuity in the reform agenda will carry India forward on the path to becoming a developed nation.

FICCI President Anish Shah said the third consecutive term for the NDA paves the way for continuity in the reform agenda.

"We look forward to progressive policies and measures that will foster economic and social development and build a strong foundation for 'Viksit Bharat'," Shah said.

Assocham Secretary General Deepak Sood said, "...India Inc is feeling confident that leadership of the country will be steered to greater heights, maintaining the fastest pace of growth amongst the major economies of the world,"

He said the Indian industry and global investors are feeling reassured of fast and bolder reforms well beyond the economy, touching upon wider governance, quality and ease of living and leveraging upon the aspirational young population.

Business leaders are also holding high hopes from the upcoming Union Budget.

"We are looking forward to the forthcoming regular Budget of the new government, which should serve as clear policy directions and priorities of the NDA government, Assocham President Sanjay Nayar said.

Sanjeev Krishan, Chairperson, PwC in India, said the incoming government shoulders the task of shaping the economic and social destiny of the world's most populous and young democracy.