Industry associations have welcomed the changes carried out by Prime Minister Atal Bihari Vajpayee in the Union council of ministers.
According to the Confederation of Indian Industry (CII), these important changes before the start of the monsoon session of Parliament will provide a further impetus to the economic reforms programme.
CII welcomed the induction of young ministers in the Cabinet, saying it would provide them with a unique opportunity and bring in fresh thoughts and ideas.
The positioning of senior ministers deeply involved in pushing the reforms agenda in the party leadership would lead to the reinforcement of reforms and a unified approach towards them, the chamber said.
The Federation of Indian Chambers of Commerce and Industry (Ficci) said it was confident that the new finance minister would continue to push the reforms process.
CII president Ashok Soota said the industry body had worked closely with the ministry of finance regarding issues related to economic reforms and other economic subjects, as well as the ministry of external affairs as part of the chamber's growing international activity.
According to CII, Yashwant Sinha is articulate and has had a good exposure and international experience in his capacity as the chairman of G-20.
Jaswant Singh had engaged the world and followed a clear strategy and direction in economic policy-making, it said. It was a win-win situation, CII said, adding it would continue its strong partnership with the Centre on both economic and international fronts.
The industry chamber said it was looking forward to working with the new ministers and addressing issues of concern to industry and business to speed up the development process.
