Lok Sabha elections 2019 results: India Inc reacts to likely NDA win, has high expectations from Modi government
As trends continue to suggest a massive majority for BJP-led NDA which would see Narendra Modi continue in the prime minister's seat, India Inc has said that it has high hopes from the new government.
As trends continue to suggest a massive majority for BJP-led NDA which would see Narendra Modi continue in the prime minister's seat, India Inc has said that it has high hopes from the new government. Industry experts believe that a stable government at the Centre will boost growth in the country and lead to higher foreign fund inflows. Former Vice Chairman NITI Aayog Arvind Panagariya tweeted that India will fully transform in the next five years.
"Delighted my one-person poll did better than any exit poll. I had said it will be a repeat of 2014. End results: BJP got absolute majority and NDA comfortably crossed 300 seats. One could not have been more accurate! See India fully transform in next 5 years," he tweeted.
Delighted my one-person poll did better than any exit poll. I had said it will be a repeat of 2014. End results: BJP got absolute majority and NDA comfortably crossed 300 seats. One could not have been more accurate! See India fully transform in next 5 years
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— Arvind Panagariya (@APanagariya) May 23, 2019
In another tweet on Wednesday, Panagariya said, "...It is time for bold reforms and wholly transform the country. The government should create healthy ecosystem for business and entrepreneurs should take responsibility to create high-productivity jobs."
The chairman of Mahindra group, Anand Mahindra tweeted that women and young voters have played a big role in this year's Lok Sabha elections.
"As I watch the counting,I get the unmistakeable feeling that a turning point in history is unfolding before my eyes. 2 new power blocs are overthrowing the establishment.Not talking about political parties but Women & Young,new voters. Increasingly, they will shape India’s future," he tweeted.
As I watch the counting,I get the unmistakeable feeling that a turning point in history is unfolding before my eyes. 2 new power blocs are overthrowing the establishment.Not talking about political parties but Women & Young,new voters. Increasingly, they will shape India’s future
— anand mahindra (@anandmahindra) May 23, 2019
Veteran industrialist and Godrej Group Chairman Adi Godrej believes that the new government is expected to take steps to ensure that India's gross domestic product (GDP) growth improves. He told PTI that one such step should be for corporate tax. "Our corporate tax rates are some of the highest in the world, they need to be brought down. The government here, in fact, had promised that corporate tax would be brought down to 25 per cent. They have done it for smaller companies but they haven't done it for larger companies. I think that is a very important move and there will be many other moves that will help revive growth," he said.
Meanwhile, BSE Member Ramesh Damani said he expects more foreign fund inflow into India going ahead. "(There will be) policy continuity, that India still has a very large good scale of domestically investible universal companies and the deal flows are more likely to happen now. A lot of the deals that were stuck in the past six months because of the elections, are more likely to happen now, so that itself will attract a lot of FDI. So I think there will be some buoyancy in terms of foreign flow into India, given how this election has panned out," he said.
At the time of writing, NDA is leading in 344 seats while UPA was ahead on just 90 seats.
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