ASSOCHAM on PM Modi: New Government Slated to Place India on Higher Growth Trajectory

Thursday, May 30, 2019

New Delhi, May 30, 2019
After attending the new government's swearing-in ceremony today, ASSOCHAM President Mr B K Goenka extended his warmest congratulations to Hon'ble Prime Minister Shri Narendra Modi and his Council of Ministers.  Expressing industry's enthusiasm with the new leadership and sharing his optimism on the government's agenda, Mr Goenka said, "With Shri Narendra Modi ji taking oath as the Prime Minister for his second term, India is slated to undertake the next level of reforms for becoming a global economic power house."   
Mr Goenka said, ''As would be clear from the first 100-day agenda of the new government, to which ASSOCHAM commits  to contribute extensively, Mr Modi would lead the nation in all critical areas, be they health, education, enhancing financial inclusion, infrastructure, agriculture reforms and strengthening the industrial landscape."
''Empowered with a huge mandate, it is expected that the government would be able to undertake some landmark reforms in several key areas like taxation, labour and land.  Some of the path-breaking reforms such as GST, Insolvency and Bankruptcy Code are bound to get a further push that will help India Inc deal with issues in the banking and financial sector. Besides, a strong and stable government would empower the RBI as well, to go in for significant cut in the lending rates, while the private sector investment would pick up pace sooner than later. ''   
Mr Goenka said ''Even before Mr Modi's swearing in, some of the global head winds like crude oil prices, have started turning into tail winds. With his global image, personal equation with global leaders and leadership of global initiatives, Mr Modi is also expected to turn the US-China trade issues in favour of the Indian economy. India Inc would fully support this endeavor to attract FDI and strengthen trade ties both with the US and China''.
President further reiterated that ASSOCHAM, on behalf of industry, commits to fulfilling Hon'ble PM's dream of a stronger and inclusive New India.
ASSOCHAM initiated its endeavour of value creation for Indian industry in 1920. It was established by promoter Chambers, representing all regions of India. Having in its fold over 400 Chambers and Trade Associations, and serving over 4.5 lakh members across India. ASSOCHAM has emerged as the fountainhead of Knowledge for Indian industry, which is all set to redefine the dynamics of growth and development in the Knowledge Based Economy. More information available on
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