Narendra Modi's Landslide Victory Will Propel Economic Growth Pace: CII

The overwhelming win of the NDA led by Prime Minister Narendra Modi will propel India’s growth pace to the next orbit and drive the transformation of the country, stated Vikram S Kirloskar, President, Confederation of Indian Industry (CII).

“We warmly congratulate the NDA on the landslide victory under the visionary leadership of Hon’ble Prime Minister Narendra Modi. The sweeping referendum truly redefines the destiny of the country and makes this India’s century,” he said.

“The stellar and decisive leadership of Hon’ble Prime Minister has led to this magnificent mandate for development. Industry is tremendously excited about Modi 2.0,” said Kirloskar.

“Over the last five years, the Prime Minister has brought in innovative mega missions that have changed the lives of hundreds of millions of citizens, driving a new template for development. With the mandate for another five years under his visionary and strong leadership, the transformation of India is on the fast track,” he added.

“This is a win for India, a win for India’s people, a win for India’s development,” he stressed.

A focused and comprehensive agenda for addressing corruption has delivered outstanding results in the last five years.

Game-changing reforms such as introduction of Goods and Services Tax (GST), Insolvency and Bankruptcy Code, lowering of tax rates for small enterprises, ease of doing business, and so on have created the right environment for industry to flourish, he said.

In addition, notable policies for easing FDI, improving the intellectual property regime, creation of new investment vehicles and others have been instituted. Spectacular achievements such as Jan Dhan Yojana, distribution of gas cylinders, complete electrification of all villages, construction of 1.5 crore houses, quick progress in roads and highways, and many others clearly show the dedicated commitment of the Government to rapid development and the scale and efficiency of its work, according to CII.

“Transparency and rule of law while weeding out corruption has been the main pillar of the Government in the last five years, delivering phenomenal results for industry,” said Kirloskar.

With India’s international leadership greatly strengthened by Prime Minister Modi, the country is already at the high table of global affairs. The massive victory further adds to India’s global direction and position.