India Inc looks at 'conducive' milieu under Manmohan

New Delhi, May 22 (IANS) Riding high on optimism, India Inc has expressed great hope that Manmohan Singh's second term as prime minister will bring India back on the path of economic growth.

Harsh Pati Singhania, president, Federation of Indian Chambers of Commerce and Industry (Ficci) said: 'Under the leadership of Dr. Manmohan Singh, we are sure that we would get a conducive economic environment in which we could propel growth and go back to the 9 percent growth trajectory.

'We are happy with the achievement of political stability which will facilitate the acceleration of the reform agenda,' he added.

Noting that the outcome of the 2009 elections has been a stable government, Chandrajit Banerjee, director general, Confederation of Indian Industry (CII) said his organisation looks forward to working closely with the government in reviving the economy during the coming days, and charting a course towards higher economic and social growth.

Associated Chambers of Commerce and Industry of India (Assocham) president, Sajjan Jindal has promised him all possible industry support, and hoped the reforms in financial, agriculture and civil aviation and other sectors will continue for inclusive growth.

'Dr. Singh has already proved his mettle in the first term of the prime ministership and brought about metamorphic social and economic changes in India's plural society,' he said, adding he hoped industry will see reforms happening in insurance, banking, financial, agriculture and labour sector so that India consistently achieves higher growth rate under which manufacturing will flourish and jobs created for rural and urban India.

The Assocham chief said he hoped that the National Rural Employment Guarantee Scheme and Bharat Nirman will receive higher allocation so that poverty is eradicated and rural India is adequately connected with urban one, bridging the current urban-rural divide.