Trade bodies hail election result

Major industry bodies in the State have welcomed the election verdict. J Crasta, co-chairperson, Associated Chamber of Commerce and Industry of India (Assocham) Southern Regional Council, said: “Given the clear mandate, it is incumbent upon the Congress to provide a clean and progressive administration that may help elevate the State to newer heights in terms of economic growth and industrial expansion.”

K Shiva Shanmugam, president, Federation of Karnataka Chamber of Commerce and Industry (FKCCI), said: “The Congress should go ahead with the required reforms, which has been pending for a long time, execute infrastructure projects which have suffered due to deficit governance and concentrate on tactical measures to improve the growth of Karnataka which has fallen to six per cent from eight per cent, and the industrial growth which has fallen from second position to the 13th position.

Citing major challenges, industry bodies have sought efforts to restore confidence of investors, effective steps to overcome the impending power crisis and a system of definite policy.

M Lakshminarayan, president, Bangalore Chamber of Industry and Commerce (BCIC), said: “We are looking forward to appropriate policies and institutional framework to achieve higher industrial growth.”

He said the government needs to focus on infrastructure development, skill development, urban renewal, SME revitalisation, capacity building, good governance and the creation of world-class infrastructure institutions.

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