The Federation of Indian Chambers of Commerce and Trade (FICCI) termed Singh because the architect of India’s economic liberalisation and the daddy of economic reforms, recognising his contribution to introducing the Liberalisation, Privatisation and Globalisation (LPG) reforms in 1991.
“Along with his visionary management, he set India on a brand new journey of development, all-round growth and world engagement. At all times humble, he impressed us all together with his tutorial insights, deep studying and heat,” mentioned Chandrajit Banerjee, Director Basic, Confederation of Indian Trade (CII).
Beneath his management as finance minister and later as prime minister, India witnessed unprecedented financial development and emerged as a global economic powerhouse, FICCI mentioned in an announcement.
“His visionary insurance policies and unwavering dedication to inclusive development have left an indelible mark on India’s financial panorama,” it mentioned.
FICCI additionally recalled the trade physique’s lengthy affiliation with the previous prime minister. “As prime minister, he supported FICCI by offering invaluable steering on industrial development and financial insurance policies,” it added.Trade physique Assocham underscored Singh’s function within the Indian financial system’s transformation from a managed financial system to a vibrant world financial powerhouse. “An impressive economist, he helped India’s journey from a managed financial system to a vibrant world financial powerhouse. The journey of reforms which started within the early Nineteen Nineties continues at a brand new tempo,” mentioned Sanjay Nayar, president, Assocham.The Institute of Chartered Accountants of India (ICAI) mourned the lack of the previous prime minister, saying, “His management and pivotal function in India’s financial reforms have left an indelible mark on the nation’s progress.”
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