Page 36 - The Indian EYE 061424

BUSINESS EYE JUNE 14, 2024 | The Indian Eye 36

Industry bodies expect big reforms and

good growth under Modi 3.0 government

On Monday, Dalal Street began trading with record highs, primarily driven

by banking stocks and Reliance Industries

OUR BUREAU volves lowering manufacturing costs,
continuing ease of doing business
Mumbai
reforms, and positioning India as a
he stock indices closed with a high-quality destination for products.
marginal dip after both indi- Research and development will be
Tces touched an all-time high crucial in achieving this,” he stated.
during Monday’s session. The Sensex Shah emphasized the impor-
touched a record high of 77,079 and tance of transforming India into a
the Nifty 50 reached 23,411 points. premier manufacturing destination
The Nifty 50 concluded with a decline by reducing costs and enhancing the
of 0.13 percent at 23,259 and the Sen- ease of doing business.
sex declined 0.27 per cent at 76,490. He stressed that continuous re-
On Monday, Dalal Street began form is necessary to attract global
trading with record highs, primarily manufacturers.
driven by banking stocks and Reli- “The second area is women-led
ance Industries. The Sensex touched development. We need more wom-
a record high of 77,079. en in manufacturing and the labour
Indian stock markets saluted PM workforce, with a strong focus on
Modi’s third term as both indices Nif- equality,” Shah continued.
ty and Sensex touched all-time highs Shah said, “Thirdly, we need to
and registered record gains during enhance farmland prosperity by im-
the opening session. The BSE Sen- proving farm productivity and cre-
sex crossed the 77,000 mark for the ating efficient value chains. Lastly,
first time following the rally as PM we must develop sustainable urban
Modi took charge in office. Accord- communities, playing a key role in
ing to the market experts, a smooth a green economy and aiding climate
transition in the government forma- transition.”
tion seemed to have boosted market “As India looks towards becoming
sentiments. the third largest economy, a stable
As Narendra Modi took charge Nirmala Sitharaman will continue as Union Finance Minister government at the Centre will fur-
as Prime Minister for the third con- ther strengthen the economic land-
secutive term today, the Indian busi- in the PM Modi-led NDA government (ANI) scape and help us achieve this feat
ness community’s expectations are within the next few years,” Shah said.
coming into sharp focus. ident of the Confederation of Indian sive reforms and a strong foundation Industry body Assocham said
Industry leaders have extended Industry (CII). to achieve the goal of Viksit Bharat that they are confident that under
their congratulations to Prime Minis- Industry leaders are eager to col- by 2047 will be laid down. PM Modi leadership, “India would
ter Narendra Modi who assumed of- laborate with the new government to “The third consecutive term for go from strength to strength gaining
fice for a third consecutive time and unlock India’s demographic dividend the NDA paves way for continuity in further stature in the global ranking,
expressed confidence in the govern- through improvements in education, the reform agenda. We look forward powered by inclusive and sustainable
ment’s ability to continue economic healthcare, and skill development. to progressive policies and measures economic growth for the next several
reforms and sustain the country’s “CII is certain that under his vi- that will foster economic and social years”.
growth momentum. The experts em- sionary leadership we shall see the development and build a strong Deepak Sood, Secretary Gen-
phasized that the Indian economy is unfolding of a golden chapter in In- foundation for ‘Viksit Bharat’,” said eral of Associated Chambers of
on the path to becoming the world’s dia’s development journey. As India Anish Shah, President of the industry Commerce and Industry of India
third-largest. continues to think and act ‘big’ under body Federation of Indian Chambers (ASSOCHAM), conveyed in his
“Building upon a strong growth Modi Ji, continuity in the reform of Commerce and Industry (FICCI). congratulatory message, “With your
rate of 8.2 per cent for 2023-24, the agenda will carry India forward on Shah outlined a vision for the taking oath as the Prime Minister for
new Government under his vision- the path to becoming a developed country, urging the government to the third term India Inc. is feeling
ary leadership can usher in the next nation,” said Chandrajit Banerjee, capitalize on its strengths and ad- confident that with under leadership
phase of reforms to make the most of Director General, CII. dress critical areas to elevate India’s the country will be steered to greater
the global opportunities and build on They are optimistic that the third global standing. heights, maintaining the fastest pace
the robust fundamentals of the Indi- term of the Modi government will “The first area is creating the best of growth amongst the major econo-
an economy,” said Sanjiv Puri, Pres- ensure the continuation of progres- manufacturing hub in India. This in- mies of the world.”

www.TheIndianEYE.com