India Inc hopes for a strong revival under NDA II

India Inc captains hailed the return of National Democratic Alliance (NDA) to power with hopes that the next five years would take the country's growth to the next level.

The coming five years, industry leaders feel, will be about completing unfinished agendas and a strong revival of gross domestic product (GDP) growth in the country.

The 2014 mandate to Prime Minister Narendra Modi, said R C Bhargava, chairman, Maruti Suzuki India, was to restructure governance and economic development systems and create employment by accelerating growth especially manufacturing. "The voter was dissatisfied with what had been happening till then. Modi initiated many reforms, but the work could not be completed as it involved making mindset and behaviour changes and legal enactments and other steps faced political difficulties. The voter has now exhibited full confidence in what Modi was doing and has given him an overwhelming mandate to proceed further. The understanding and maturity of the voter is truly outstanding," said Bhargava.

According to Sunil Bharti Mittal, founder and chairman, Bharti Enterprises, the phenomenal mandate clearly underlines the nation's unambiguous confidence in Modi's decisive and visionary leadership. "This solid verdict would further strengthen his resolve to drive forward the economic agenda to ensure that the fruits of the economic momentum continue to reach the poor, so visible during the last five years," said Mittal, adding that Modi's focus on digital India will inspire many to make India a leader in the digital economy.

Adi Godrej, chairman, Godrej Group, expects the government to take strong action for the reviving the GDP growth as soon as it is sworn in. "It will lead to solution of other problems such as low number of jobs, low agricultural growth, etc. Overall, I see India doing very well over the next five years," he said.

Niranjan Hiranandani, national president - NAREDCO and managing director, Hiranandani Group, said the sector looks forward to the continuity of the progressive policies that were initiated in the past five years. "We believe the new government works further for the structural reforms and steps that will boost real estate business and strengthen consumer sentiment towards Indian real estate. The strong and steady government should bring about stability with remedial actions without much delay to revive the shock of last quarter economic growth," said Hiranandani.

The colossal verdict is also the vote for economic stability and hope for aspirations of young India, said G P Hinduja, co-chairman, Hinduja Group. "It also brings a responsibility on Modi's shoulders to speed up the economic reforms to accelerate India's economic trajectory. We need more foreign direct investment (FDI) to come in, more investors and more industry to come into India. NDA 2.0 has to roll out the red carpet to further improve ease of doing business," said Hinduja.

Tulsi Tanti, founder, chairman and managing director, Suzlon Group, said, "We look forward to NAMO 2.0 government deliver on its promises by spearheading the growth of agriculture sector, social sector and industry with dynamic policy changes that will fuel overall economic growth, energy security, nation building and job creation. We are confident that the Modi government will ensure ease of living, ease of doing business, and make India clean, green and safe country."

A mandate to build a strong, proud and prosperous India is what the people of this country want now, said Ajay Singh, chairman and managing director, SpiceJet. "India must grow at 10% for the next ten years and this government will ensure that we shed the tag of a 'developing' country and proudly take our place in the big league of economic superpowers," Singh said.

India's aviation sector has witnessed remarkable growth in the last five years and Singh is confident that it will continue to be the fastest growing aviation market in the world. "We hope that our government will address the structural challenges facing the sector urgently. If this is done, there is no doubt that Indian carriers will become leading global players and India, a global aviation hub that surpasses Dubai, Abu Dhabi and Singapore," he said.

Gautam Hari Singhania, chairman and managing director, Raymond, said a decisive leadership and political stability is good for the country and a major boost for our fast growing national economy. "In a decade of consumption led growth ahead for our young country, this mandate should usher a new era of industrial growth and policy reforms, including a significant fillip to the manufacturing sector," said Singhania.