Confederation of Indian Industry (CII) said
the recent ministry-expansion by Prime Minister Narendra Modi will help improve
the focus on economic recovery.
CII president Ajay Shriram said the induction of new ministers will streamline governance and bring in new ideas for the economic reforms process.
The CII president said that while the
business sentiment picked up since the new government took over, the
ministerial expansion will support faster decision-making, efficient
administration and faster clearances, to ensure new investments.
The industry chamber said at a time when
the economy was recovering, it was important to fast-track policies to
strengthen this. The Cabinet expansion sends out a signal that the government
under Prime Minister Modi is serious about accelerating reforms.
India`s GDP rose 5.7 percent in the
first quarter of 2014-15, an improvement over the sub-5-percent rate of the
previous two years. Industry is hoping the expanded cabinet will rapidly
address tax reform, land acquisition, power and ease of doing business.
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