Normalcy by Monday, says India Inc

Mumbai | Updated: Dec 1 2008, 04:07am hrs
India Inc on Saturday exuded confidence that business will be back to normal from Monday and heaved a sigh of relief as the 60-hour terror horror got over this morning.

While urging Prime Minister Manmohan Singh for tougher laws against terrorism so that dastardly acts witnessed in the financial capital since Wednesday are not repeated elsewhere in India, apex industry chambers said the economy will recover fast from the blow.

Even on Friday stock market in the midst of the battle showed some resilience, this is an indication as to how India and its people take these dastardly activities of terrorists in their stride. We expect that by Monday the regular financial parameters and fundamentals will come back into play, Ficci secretary general Amit Mitra said. He, however, reminded the Prime Minister to keep his words for tough action against terrorism. We expect that the commitments made by the Prime Minister of tougher laws against terrorists and centralised single agency for dealing with such situations will come into force sooner or later, he said.

Expressing confidence that the attack would not have any long lasting impact on foreign investments in India, Mitra said: 25 billion dollars have come as FDI, we expect the flow to continue even if slightly muted, given the global circumstances.

Assocham secretary general DS Rawat also expressed confidence that India would recover fast from the blow although it could face a temporary setback. It will definitely have temporary impact but in two months everything will be normal, Rawat said.