"That is unfortunate. For all these years, we have been telling the world that whatever be the level of political differences, there is a broad consensus on economic reforms among the major two parties on a wider spectrum. Such a premise does not seem to be holding good any more," Assocham President Rana Kapoor said.
He added, "Whether it was FDI in multi-brand retail or now GST, the key reforms tend to become the bones of contention and sticking points between the major political rivals."
The Monsoon session of Parliament, which was a virtual washout, came to an end today, capping the stormy developments it witnessed during the entire four weeks since it began on July 21.
However, keen to ensure the passage of GST bill, government is keeping open the option of reconvening the session with the Cabinet Committee on Parliamentary Affairs today deciding not to recommend immediate prorogation of the Houses after they are adjourned sine die.
"With China slowing down, India is at the cusp of a bigger opportunity, which we should have grabbed. Unfortunately, political events of the last few weeks do not support the business environment," Kapoor pointed out.