"The manifesto has pledged to restore India to 8 per cent plus growth rate within three years and boost manufacturing to 10 per cent with special emphasis on small and medium enterprises. This will be done by ensuring a globally competitive business and investment-friendly environment," CII said in a statement.
It said for industry, the manifesto has committed to introduce the Goods and Services Tax (GST) Code Bill and a new Direct Tax Code (DTC) Bill in Parliament and ensure that they are enacted within one year.
"The industry will be happier if measures and reforms are proactively perused to execute GST and new DTC in the first six months of the new government as these have already been delayed inordinately," Jaipuria said.
Sharing similar views, Assocham said the congress election manifesto 2014 indicates growth orientated progressive policy.
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"We on voluntary basis supported affirmative action in private sector and initiative lots of steps to improve employability," it said.
"Inclusive growth is an imperative, however the wide variety of rights must be only based on sound economic health of the country," Ficci President Sidharth Birla added.
Congress today promised to push economic growth rate to 8 per cent in the next three years, create 10 crore jobs and take firm steps to contain inflation.
In its manifesto for the upcoming elections released by Congress President Sonia Gandhi, the party also pledged to encourage FDI and push GST and DTC within one year of coming into power.
The 15-point agenda for socio-economic and political transformation include initiatives like promoting flexible labour laws, systemic efforts to recover black money and increasing health expenditure to 3 per cent of GDP.
Indian economy, which grew by over 9 per cent before the 2008 global financial crisis, has slipped to decade's low of 4.5 per cent in 2012-13. In the current fiscal, it is estimated to expand by 4.9 per cent.