The Hindu Business Line : India Inc hails Manmohan's appointment as PM

While respecting and applauding the decision made by Mrs Sonia Gandhi to step aside, the Director General (Designate) of the Confederation of Indian Industry (CII), Mr N. Srinivasan said that Dr Singh possesses tremendous qualities of head and heart, deep knowledge of economics, extreme humility, a high level of maturity and therefore the ability to lead the nation. "We are confident that the appropriate focus would continue on economic development so that the 8-10 per cent growth rates becomes a reality," Mr Srinivasan added.

Similarly the President of the Federation of Indian Chambers of Commerce and Industry (FICCI), Mr Yogendra Modi, added that Dr Singh is not only respected across the political spectrum within the country but is equally respected and recognised globally.

In a statement the chamber has said that the successful experience of Dr Singh during the Government of former Prime Minister, Mr Narasimha Rao will enable him to steer the country to a new growth trajectory in spite of the complexities of the present coalition.

Similarly, the President of The Associated Chambers of Commerce and Industry of India (Assocham), Mr M.K. Sanghi, congratulated Ms Sonia Gandhi for single handedly bringing back her party to power.

Mr Sanghi has also congratulated Dr Manmohan Singh on his election as the Leader of the Congress Parliamentary Party. The Assocham President while extending total support of the trade and industry to the new government also appealed to all political parties to support economic reforms for generating employment opportunities both in rural and urban areas and for making the Indian economy globally competitive.

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