Corporate India and apex industry bodies on Sunday hailed Narendra Modi’s third-term swearing-in, expressing confidence that India would further rise in its global economic stature under his leadership.

“Prime Minister Narendra Modi has rekindled the national resolve to become the third largest economy even as we have already become the fifth amongst the top economies of the world. 

The entire ecosystem of industry, trade and financial markets are re-energised with the beginning of new innings,” Sanjay Nayar, President, Assocham said.

Congratulating Prime Minister Narendra Modi and the National Democratic Alliance (NDA) for winning the recently concluded General Elections, FICCI President, Anish Shah said that the third consecutive term for the NDA paves way for continuity in the reform agenda. 

“We look forward to progressive policies and measures that will foster economic and social development and build strong foundation for ‘Viksit Bharat’. 

As India looks towards becoming the third largest economy, a stable government at the Centre will further strengthen the economic landscape and help us achieve this feat within next few years,” Shah said.

Deepak Sood, Secretary General, Assocham, said that India Inc is feeling confident that the country will be steered under your leadership to greater heights, maintaining the fastest pace of  growth amongst the major economies of the world.

Sanjeev Krishan, Chairperson, PwC in India, said that the incoming Government shoulders the task of shaping the economic and social destiny of the world’s most populous and young democracy. 

“While the Government will continue to strengthen the foundation of our nation, it should also consider prioritising allocation of resources and efforts around three actions,” he said. 

These three actions are: Enhancing its trust quotient with the youth by gainfully engaging them with a host of skill-driven employment and entrepreneurship initiatives; Collaborating with industry and academia to build policy and regulatory frameworks to transform technologies and leverage it more meaningfully in the India context and embedding sustainability as a core principle in the planning and execution of key governmental initiatives, as well as programmes driven through public-private partnerships.