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This is an archive article published on November 30, 2008

145;Business will be back to normal146;

India Inc today exuded confidence that business will be back to normal from Monday.

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India Inc today exuded confidence that business will be back to normal from Monday. Urging the prime minister for tougher laws against terrorism so that dastardly acts witnessed in the financial capital since Wednesday are not repeated elsewhere in India, apex industry chambers said the economy will recover fast from the blow.

8220;Even yesterday, the stock market in the midst of the battle showed some resilience. We expect that by Monday the regular financial parameters and fundamentals will come back into play,8221; Ficii secretary general Amit Mitra said. He, however, reminded the prime minister to keep his words for tough action against terrorism.

Expressing confidence that the attack would not have long lasting impact on foreign investments, Mitra said, 8220;India is a natural destination for potential investors in the future. 25 billion have come as FDI, we expect the flow to continue even if slightly muted, given the global circumstances.8221;

CII director general Chandrajit Banerjee said India must show to the world that it can 8220;deal with terrorism effectively. Industry looks for an institutionalised and administrative mechanism, which will give a strong signal.8221;

Assocham secretary general DS Rawat expressed confidence that India would recover fast although it could face a temporary setback. 8220;It will definitely have temporary impact but in two months everything will be normal,8221; Rawat said.

He said the worst hit sector could be tourism, as the number of tourists was already down 10 per cent and the message gone worldwide will affect it by at least 25 per cent in the peak season of October-March.

 

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