India Inc hails Modi victory in Gujarat election
New Delhi/Ahmedabad: Industry leaders Thursday hailed the sweeping victory of Narendra Modi-led Bharatiya Janata Party (BJP) in the Gujarat assembly elections saying it will further boost the flow of investments into the state.
Confederation of Indian Industry (CII) president Adi Godrej said Modi's being in office again would further boost investors' confidence in the state and provide political stability.
"The stability in the state would enhance confidence of the industry and herald new investments. CII has been working closely with the state government and looks forward to continuing its engagement with it for Gujarat's progress," Godrej said.
The Bharatiya Janata Party is poised to win bag 116 seats, virtually equalling the 117 seats won in the 2007 assembly elections to the 182-member Gujarat assembly.
"Modi's hat trick victory is a resounding endorsement of his leadership and his success in economic development in Gujarat," said Kiran Mazumdar Shaw, chairman and managing director of Biocon Limited.
RBI Chief Raghuram Rajan stated that more economic data is needed to be confident that economic growth is picking up, although he added that the benefits to exports from the Rupee's fall is yet to kick in.
Date 11-12-13, Duration 2:19, Views 61