India Inc's business confidence high with Modi govt in power

Tags: News
The new government led by Prime Minister Narendra Modi has brought cheers to the stock market and significantly upped the business confidence of India Inc, according to a PHD Chamber of Commerce & Industry survey.

The survey of 300 entrepreneurs belonging to the PHD Chamber also indicates that the momentum of doing business in India would accelerate in the near future.

"Over 80 per cent of business people reasoned that Modi's leadership spurred stock market boom and brought back confidence at higher echelon of bureaucracy for expediting decision making with his assurance that consequential after effects noticed later on in their decision taken for serving the public cause will not be subjected to scrutiny," President of PHD Chamber Sharad Jaipuria said.

Vowing to control inflation, Modi said yesterday in his address to Parliament that improving agriculture productivity through modern farm techniques and university-farmer collaboration hold the key to check price rise.

Emphasising the importance of increasing farm productivity, Modi said there is a need for use of modern technique in the agriculture sector because farm land is shrinking with rising population.

The Prime Minister talked about his "dreams" of ensuring the country's progress and converting the image from "scam India" to "skills India" through "cooperative federalism".

Meanwhile, The benchmark Sensex rebounded 102.32 points to end near record highs led by HDFC and HDFC Bank shares ahead of industrial output and retail inflation data releases due later today.

The BSE 30-share barometer resumed higher and moved side ways in a range of over 200 points before ending at 25,576.21 -- a rise of 102.32 points or 0.40 per cent.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Financial inclusion, if executed to plan, will lift economy

    The government’s proposed big push to financial inclusion, as reported by the Press Trust of India, if executed to plan, would go along way

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Kumar Jain

Innovation challenges for IT firms

As established technology companies become old and gear for a ...

Kuruvilla Pandikattu SJ

How we can connect ourselves to others

Most of us have difficulty in being true to ourselves ...

Gautam Gupta

We must nurture talent from small towns of India

Every year, we have droves of fashion graduates passing out ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture