Industry bodies welcome BJP's manifesto; feel upset at party's stand on FDI in multi-brand retail
Amidst high expectations for much-needed revival of the economic growth, the BJP’s focus in its election manifesto on giving a boost to economy, rationalising and simplification of taxation and restoring investor confidence would be a morale booster, said the Associated Chamber of Commerce and Industry of India (Assocham).
Assocham would continue to impress upon the BJP to reconsider its
stand on FDI in multi-brand retail- as the move will only act as a
multiplier effect on India’s economy without impacting in any way
the neighbourhood kirana stores.
As for the taxation reforms,
the industry would urge the BJP to take a lead in building a
political consensus between the Centre and the states on the crucial
reform of the Goods and Services Tax.
We are also encouraged
by the party’s focus on building important infrastructure and
giving a boost to urbanisation by building 100 new cities. “The
commitment by the BJP Prime Ministerial candidate Narendra Modi to
put governance and growth ahead of other issues, is the most welcome
development,” the Chamber President Rana Kapoor said.
said the Assocham is fully committed to cooperate with the new
government for full-scale revival of the economy which will be
achieved by addressing the issues of inflation, unemployment, growth
and the focus on revitalizing the manufacturing sector.
Industry body FICCI's President Sidhartha Birla while reacting on the BJP's manifesto said,"The BJP manifesto outlines multiple measures for inclusive
development, with focus on governance, growth and employment. These are
arguably the key concerns facing the economy today."
"Besides an investment friendliness, we welcome the openness to FDI
linked to creation of assets and employment. Though we feel
disappointment on the stand on FDI in Multi-Brand Retail, we hold out
hope for a possible review in the future", he added.