Quotes: India Inc reacts after election results 2014 hand win to Narendra Modi

Written by PTI | New Delhi | Updated: May 16 2014, 23:56pm hrs
Narendra ModiMarket is already cheering and the trend of stock exchange shows, that the economic graph of India will take a new flight: Baba Kalyani (PTI)
Following are the comments of captains of Indian industry on Narendra Modi's impressive victory in 16th Lok Sabha election after declaration of results.

* Welspun Renewables Energy Vice-Chairman Vineet Mittal: Stable government with clear majority will boost confidence of the industry. The surge in the market stands testament that the billions of dollars of FII investment sitting on the fence, due to cloudy policy atmosphere - will now come to India.

* ICICI Bank MD & CEO Chanda Kochhar: The immediate priorities would be to resolve the retrospective taxation issue and bring clarity around tax laws, begin the implementation of GST, and take steps to contain inflation.

* HDFC Vice-Chairman & MD Keki Mistry: The first thing that the new government should do is to bring in tax-friendly laws. It also should bring down the effective tax rates but improve tax compliance.

* Aditya Birla Group Chairman Kumar Mangalam Birla: The new government must accelerate economic growth. So reining in of inflation, fiscal deficit and unemployment are of paramount importance as is stoking of an environment that is conducive to a revival of investor optimism

* TCS CEO N Chandrasekaran: A strong and stable government at the Centre will help drive the next generation of reforms, speed up policy making thereby boosting prospects for economic growth.

* UAE Exchange Chairman B R Shetty: I would expect the new government to address the issues India faces including boosting economic growth, tackling corruption and fostering inclusive development.

* Shriram Properties MD M Murali: The new Government should have a relook on FDI policy and a friendly Real estate bill. Creation of investment-friendly real estate market by keeping interest rates low and employment generation high is important.

* RICS (South Asia) MD Sachin Sandhir: The electoral verdict signals a clear mandate for the growth of housing and construction sectors in the country, and will boost employment and growth in the next 12 months period.

* Hinduja Group Chairman Srichand Hinduja: Narendra Modi has a proven track-record of governance in Gujarat and people have reposed enormous faith in his leadership. The election results will lead to political stability, high economic growth and will help revive the investment climate.

* Yes Bank MD & CEO Rana Kapoor: The sentiments are extremely positive, the new Government now must take all measures towards securing economic, social and national mandates for our nation.

* Apollo Hospitals Chairman Prataph Reddy: The new government needs to drastically increase public spending on health and create a roadmap for universal health coverage. An equally urgent need is to make the direct taxes code and GST a reality.

* Suzlon Group Chairman Tulsi Tanti: The BJP led government will provide an environment conducive for growth and investments, with major reforms in infrastructure and renewable energy sector. This is important as India's economic environment will act as a catalyst in reviving the global economy.

* GVK Power Founder Chairman & Managing Director GVK Reddy: With a strong mandate, the new government will do well and will implement economic policies that benefit the country's people and its industry. This will create an environment conducive for growth.

* Omaxe Ltd CEO Mohit Goel: I am optimistic that the scenario will improve for the real estate sector. We expect the Government to take cognizance of the long-pending demand of the real estate sector like industry status, incentive for affordable housing and enhanced tax reliefs for homebuyers.

* JK Tyre & Industries Chairman Raghupati Singhania: We hope that the new government initiates steps that has the potential to reverse the current downturn into a growth momentum, which is really the need of the hour.

* Bharat Forge Chairman & MD Baba Kalyani: Market is already cheering and the trend of stock exchange shows, that the economic graph of India will take a new flight. We expect the government to put the stalled projects on a fast track mode, push for better investments and focus on manufacturing sector.