look news india
New Delhi: Despite the “unexpected” election results, CEOs of Indian companies are hopeful that the new government will continue economic reforms and maintain policy continuity. Industry leaders are calling for sustained economic growth by upgrading infrastructure and boosting manufacturing through productivity-enhancing schemes.
The election results came as manufacturing activity slowed for the second consecutive month in May. However, business sentiment remained upbeat with rising hiring, according to the May manufacturing PMI.
Godrej Industries said that the exit polls seem to be very wrong and the market is reacting very badly. Even though the NDA is leading in the elections, there is still a lot of uncertainty, although the industry will not be affected. Some industries dependent on the government will be affected.
Although the stock markets reacted negatively to the election results, CEOs expressed confidence that the stock market will improve as the recovery continues. When the reality emerges, the industry will keep an eye on the formation of the new government.
Industry leaders said the current government has made significant progress on the policy front and in the country's economic development during the last two terms. The economy has grown due to heavy investments in the country's development. The real estate industry will always hope for a stable government that will ensure there are no hindrances in investments in ongoing projects and infrastructure development.
The PLI scheme has helped strengthen the industry and it is expected that the new government will continue this scheme. Apart from this, the new government should pursue climate action and sustainable development goals. It is necessary to emphasize the importance of stability and favorable policies for the industry. The new government should remain committed to promoting innovation, streamlining regulations and investing in infrastructure.
