CII said Mukherjee helped steer India out of the economic crisis of 2008-09.
"Quite deservedly, Mukherjee has received several national and international awards and honours. And now as he gets ready to hold the highest office of the country, CII wishes him all the very best for a successful tenure," it said.
CII President Adi Godrej said Mukherjee is a 'Man of all seasons'.
"Mukherjee has had a distinguished and long political career, in the course of which he has held some of the most important portfolios in the government," said Godrej.
Industry body FICCI President R V Kanoria said, "FICCI would like to convey its best wishes to Pranab Mukherjee. He is now occupying the highest office of the country and his contribution to the nation building has been outstanding."
Assocham said the election of Pranab Mukherjee as president is a fitting finale to his long career in public service stretching over four decades, adding, he has guided every single central ministry of importance.
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"Now as the elder statesman, he will be able to give his wise counsel in running the affair of the country. We wish him all success in his new responsibility," said D S Rawat, Secretary General, Assocham.
Mukherjee, UPA nominee, got 5,64,469 vote value, well beyond the half-way mark of 5,25,140 in an electoral college of over 10.5 lakh when counting of votes polled by the MPs and MLAs of 20 of the 30 states was completed.