After days of uncertainty, the industry has drawn comfort from Prime Minister-designate Manmohan Singh's statement making it clear that investor-friendly economic policies would be followed by the new government.
"We are confident that growth in the economy will be maintained by well thought out policies... Singh's statement that investor friendly economic policy would be followed has given some comfort to the industry. Overall, he has given very positive signals," Confederation of Indian Industry director general (designate) N Srinivasan told PTI.
However, he said there is indication that there would be some change in the emphasis on the divestment programme with some fine tuning, which would be known after the Common Minimum Programme is unveiled.
Srinivasan said Singh had emphasised on employment generation and removal of poverty as key areas of his economic programme, thus making it clear that development would be the focus of economic policies.
Assocham also welcomed Singh's statement and hoped that the next five years of his government will lay the foundation for robust growth of the economy and usher prosperity in the country.
Emphasising that PSU divestment was a step in the right direction, Assocham president M K Sanghi said it had been recognised world over that government investment in business had not produced the best possible results.
Hence the search for an alternative mode of management in which the government divests its stake in PSUs assumes special significance, he added.
Electronic and Software Export Promotion Council said IT and IT-enabled services should be given prime importance by the new government as a part of its strategy to generate more employment and promote e-governance.
"Singh's assurance that privatisation will continue selectively should assure the markets," Federation of Indian Chambers of Commerce and Industry president Y K Modi said.
Ficci said Singh's stress on broad-based growth, removal of poverty, employment generation, reforms in health and education sector will quicken the pace of development.
Commending Singh's statement that the policies of the outgoing government in building roads including rural roads would continue, Ficci said this will promote broad-based rural development.