BUSINESS
23/05/2019 4:07 PM IST | Updated 23/05/2019 6:05 PM IST

India Inc Hails Modi Win Like It Forgot He Has Already Been The PM

India's tycoons seem to have forgotten that Modi was the prime minister for the past five years — when not much happened on the economy.

Industry leaders Anil Agarwal, Harsh Goenka and Uday Kotak Thursday hailed Prime Minister Narendra Modi’s win as trends showed BJP-led NDA returning to power with a thumping majority.

Quick recap: The economy has not done well under the Modi-led NDA government. In fact, over 50 lakh men lost jobs post demonetisation, leaked government data showed unemployment was at a 45-year high, economists are creating their own benchamarks because they don’t trust data fudged by the government and questions are being raised about the new method used for the GDP series.

A very dramatic Harsh Goenka tweeted:

Vedanta Resources Chairman Anil Agarwal said Modi’s vision would bring a “leap” in India’s growth.

Hindustan Times via Getty Images

Kotak Mohinda CEO Uday Kotak called it a time for transformation.

Essel Group chairman and Rajya Sabha Member from BJP, Subhash Chandra said Modi’s historic and decisive win was a victory for the country as well the party.

A more considered take came from Mahindra Group chairman who tweeted:

 

Godrej Group Chairman Adi Godrej told PTI the new government was expected to take steps to ensure that India’s gross domestic product (GDP) growth improves.

He explained that one such step should be for corporate tax. “Our corporate tax rates are some of the highest in the world, they need to be brought down. The government here, in fact, had promised that corporate tax would be brought down to 25 per cent.

“They have done it for smaller companies but they haven’t done it for larger companies. I think that is a very important move and there will be many other moves that will help revive growth,” he said.