Indian business community hails Modi’s win

Inayat-ur-Rahman, Senior Staff Reporter

Indian Prime Minister Narendra Modi promised to unite the country on Thursday after a big election win, with his party on course to increase its majority on a mandate of business-friendly policies and a tough stand on national security.

A cross-section of business heavyweights and Non Resident Indians (NRIs) based in the UAE shared their candid views with Gulf Today over Modi’s victory. Rizwan Sajan, Founder and Chairman Danube Group, extended his heartiest congratulations to Modi government.

“Honestly the results are not surprising for many of us as it clearly showcases the outstanding previous year’s performance by them. The NDA government’s infrastructure push and its efforts to strengthen Brand India is one of its biggest achievements,” he added.

“I would like to thank the government for simplified tax structures and an easy tax administration which helped many brands like us to enter the Indian market to generate more business and provide employment opportunities. We wish the same continues and the nation keeps growing and shinning.”

Paras Shahdadpuri, chairman, Nikai Group of Companies mentioned that the 2019 General Election has been one of the toughest fought elections since independence. Imagine this is the biggest election exercise on the planet with about 900 million eligible voters. We need to celebrate this festival of democracy.

“It is clear the incumbent BJP led NDA will form the government. To most of the diaspora it is a big relief and a reason for celebration,” he added.

“Prime Minster Modi is a visionary and a very capable and HONEST leader. He believes in Sab Ka Saath Sab Ka Vikas. His achievements and growth story is absolutely laudable. The coming five years are very crucial for India where NDA can consolidate the good work done in past 5 years and on this foundation, they can build a sustainable growth story of India for some decades to come.”

“PM Modi has catapulted India at the world stage where India can play an important role in global peace and harmony.”

Indian diaspora is proud to carry Blue Passport and PM Modi has hugely enhanced the esteem and respect of Indians abroad.

“I wish to see our Indian brothers and sisters to respect the laws of the land wherever they are living, respect the institutions of India, represent our country abroad with dignity and discipline. With the UAE, India has comprehensive strategic and unique relationship in every possible field, and on our part, it is our responsibility to sustain and grow this amazing relationship. “

CA Mahmood Bangara, Chairman, ICAI Dubai Chapter:

“Very clear mandate for Prime Minister Modi to lead the nation for one more term. The largest democracy has successfully tested its process. With emphasis on education, infrastructure, healthcare, people would look for better living standards and opportunities.  Being the 5th largest economy of the world, India is emerging as a still more assertive world leader.

“Whatever ever happens in India, affects the world too.  A simplified tax system with lower tax rates encouragement for all types of business will be what the people aspire for.”

 Amol Vaidya, Sr, Director Operations, Global Indian International School, UAE: “Young India is educated and aspirational. They like people with clear thinking and positive energy. That is what they have delivered. Creases remain to be sorted out. That is one of the larger challenges the country faces. They have chosen the best available option who could help face up to the challenges staring the country – jobs, growth, agriculture income, food security, social harmony. Interesting times ahead for all of us Indians.”

Official data from the Election Commission showed Modi’s Bharatiya Janata Party (BJP) ahead in 300 of the 542 seats being contested, up from the 282 it won in 2014 and more than the 272 seats needed for a majority in the lower house of parliament.

That would give it the first back-to-back majority for a single party since 1984.

Modi’s victory boosted financial markets as investors expect his government to continue to pursue economic reforms. He will be under pressure to provide work opportunities for the tens of millions of young people coming on to the job market in the next few years and to boost depressed farm incomes.

“The immediate challenges are to address employment, the issue of agricultural income and revive the banking sector,” said Madan Sabnavis, chief economist at Care Ratings in Mumbai.

But making good on his promise of unity will be difficult as the BJP campaign was often divisive, and members of the minority Muslim community expressed fears that they were being treated as second-class citizens.