New Delhi, May 19: India Inc today hailed the announcement of economist-turned politician Manmohan Singh as the country’s next Prime Minister and expects the good doctor to take the reform process, initiated by him in 1991, to its logical conclusion despite the Left alliance.

Adi B. Godrej, Godrej group chairman, said, “It is an excellent development for India. I’m sure under his premiership, India will not only make economic progress but develop its education and social sectors as well.”

Bajaj Auto CMD Rahul Bajaj said, “We are happy to see that a pro-reform person has taken over as the Prime Minister. He always was my second choice as finance minister. The picture will become clearer once the cabinet is formalised and the Common Minimum Programme is in place.”

Arun Bharat Ram, vice-chairman and senior managing director, SRF Limited, said, “Manmohan Singh becoming the Prime Minister is certainly a good move for corporate India. We are expecting to see a person, who has been the country’s finance minister in a very difficult time, becoming the Prime Minister. His ability to take along even the Left parties makes him the right person to lead the country.”

Biocon CMD Kiran Mazumdar Shaw said, “It is very interesting to have an economist as the Prime Minister. It gives us the hope that economic reforms will be looked at in a serious and responsible manner.”

Onkar S. Kanwar, chairman and managing director of Apollo Tyres, said, “I wish him all the success. It was the Congress who really initiated economic reforms in the country. Under his prime ministership, the country’s reforms will further accelerate and scale new heights. As far as the Left is concerned, they have done better work in Bengal than Chandrababu Naidu did in Andhra Pradesh.”

Y. K. Modi, Ficci president, said, “The economy will move at a faster pace. For the first time in the country’s history a former finance minister is becoming the Prime Minister. The move is certainly positive.”