Decisive action against terror will spur growth: Shaktikanta

Terming terrorism as the biggest threat to economic stability, Finance Ministry on Thursday said decisive action against the menace will spur growth.

India carried out ‘surgical strikes’ on terror launch pads across the Line of Control (LoC) in Jammu and Kashmir last night, inflicting “significant casualties” on terrorists and those who are trying to support them.

“Terrorism (is the) biggest threat to our financial and economic stability and growth. Decisive action against terrorism will spur growth and stability,” Economic Affairs Secretary Shaktikanta Das said in a tweet following the strikes.

Meanwhile, India Inc rallied behind the Army’s move to conduct surgical strikes on terror launch pads across the Line of Control and said it was time to act tough while ruling out any negative impact on the country’s economy and trade. 

“Our civil n (sic) decent response in the past hasn’t been met with reciprocity so it’s time to act tough,” Biocon CMD Kiran Mazumdar-Shaw tweeted.

Recalling an earlier tweet in which he had said “I trust our army. They know how to pursue & retaliate” in the wake of the Uri attack, industrialist Anand Mahindra said: “I don’t need to add anything more today...”

PHD Chamber of Commerce and Industry President Mahesh Gupta said there will be no impact on India’s trade and economy, adding that the volatility in the financial markets will also be short lived.

India’s exports to the neighbouring country worked out to USD 2.17 billion, or 0.83 per cent, of the total Indian outward shipments while imports were less than USD 500 million, or 0.13 per cent, of the total inward shipments.