CII President Sanjeev Puri in a statement congratulated PM Modi for taking charge for the third consecutive time.

“Based on a strong growth rate of 8.2 per cent for 2023-24, the new government under his visionary leadership can initiate the next phase of reforms to make the most of global opportunities and build on the strong fundamentals of the Indian economy " Puri said.

India is projected to overtake Japan to become the world's fourth largest economy in the near future. The government recently said that India will become the world's third largest economy by 2027, surpassing Japan and Germany.

He said this is an important moment for India and Indian industry is keen to work with the incoming government to further accelerate the country's growth journey.

CII Director General Chandrajit Banerjee said that under the visionary leadership of PM Modi, "we will see the opening of a golden chapter in India's development journey."

PM Modi took charge on Monday and signed his first file for farmers' welfare.

This will benefit 9.3 crore farmers and the total disbursement is expected to reach approximately Rs 20,000 crore.

Banerjee said CII will intensify its initiatives to build stakeholder consensus on next-generation reforms and "work closely with the new government on unlocking the potential of India's demographic dividend through education, healthcare and skill development". .