In a statement, Tanti said he expects "strong governance and creation of environment for huge investments" in Modi's regime. He said the Modi government is expected to ensure long-term stability in the domestic economy.
"...this is important as India's economic development will act as a catalyst in reviving global economy," he added.
Tanti was among the industrialists present at a special session of the legislative assembly where Modi stepped down as Chief Minister of Gujarat.
Tanti is Chairman and Managing Director of wind turbine maker Suzlon, which has wind energy projects in Gujarat.
According to the Suzlon chief, Modi as chief minister had delivered excellent and efficient governance.
Modi will be sworn in as Prime Minister on May 26 after leading the Bharatiya Janata Party to a thumping victory by winning 282 seats in the Lok Sabha elections.