Upbeat Indian industry happy about election results

May 16th, 2009 - 7:46 pm ICT by ANI  

Manmohan Singh New Delhi, May 16 (ANI): Indian industry has applauded the people’s mandate that brought the Congress-led United Progressive Alliance (UPA) government back to power.

Federation of Indian Chambers of Commerce and Industry (FICCI) office bearers believe the reforms initiated by the United Progressive Alliance (UPA) can now continue without disruption.

FICCI Secretary General Amit Mitra said he was happy because Prime Minister Dr. Manmohan Singh would now be in a position to lead a stable government.

“Why the business is so happy? The reasons are stability, continuity and deepening of reforms, which has become very important,” Mitra said.

The industrialists said they were confident that the UPA Government would initiate make suitable reforms to increase Foreign Direct Investments (FDI) in the country, which has been on a decline due to global recession.

“This government will bring in enough reforms for the foreign investment which had slowed down over a period of time,” said Rajan Mittal, FICCI Vice President and Bharti Enterprises Managing Director.

The industry said it was jubilant over the fact of a clear mandate.

“We, from the business community, are very happy that we have a verdict which is clear and not fractured, therefore there will be ability of the government to take decisive action,” said Harshpati Singhania, FICCI President and J. K. Paper Limited Managing Director. (ANI)

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