Expressing shock over the terrorist attack in Mumbai claiming about 100 lives, the Indian industry on Thursday demanded tougher laws along with 'stronger and firmer' leadership to tackle terrorism.
The industry leaders, including heads of the apex chambers, said the country needs to be on a high alert since its institutions are becoming vulnerable to the terrorists' attacks.
Condemning the killer attacks in India's financial capital, HDFC [Get Quote] chairman Deepak Parekh said, "Blasts are bad for investor confidence."
Demanding stringent laws to deal with terrorists, FICCI president Rajeev Chandrasekhar said, "It is time we all join this debate on terrorism and demand stronger and firmer leadership and approach to this threat of terrorism, including better laws."
He said the Indian business has so far been 'mute and very detached from this debate on terrorism and tougher approach to terrorism and terrorists, including anti-terror laws'.
CII president and ICICI Bank [Get Quote] CEO and managing director K V Kamath said, "The attacks 'clearly show that our institutions could be vulnerable whether institutions of commerce like hotels or any institutions doing any sort of business."
He said, "Everyone needs to be on high alert at this point of time." However, while the city has a track record of bouncing back, "this is new type of attack and I am sure the city has to adjust to this," Kamath said.
Condemning terrorist attacks in the country's financial capital, Assocham president Sajjan Jindal said the government should take steps to 'prevent recurrence of such incidents'.
He said security should be tightened at sensitive places, including business hubs.
Investor services firm Moody's apprehended further fall in the rupee following terrorist acts targeting the financial landmarks. "The rupee may further weaken when trading resumes," it said.
It also feared increase in pressure on capital outflows that have resulted in the Indian currency trading at its weakest levels.
Major markets, including Bombay Stock Exchange and National Stock Exchange, will remain closed.
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