Indian Industry has welcomed the new economic measures announced by Indian Prime Minister, Atal Behari Vajpayee, over the weekend.

Stockmarkets have also reacted favourably to the package.

Share prices in the country's major stock exchange in Bombay went up by four percent on Monday after falling over recent weeks.

The BBC's Bombay correspondent says the good half-yearly results posted by leading corporations and India's major bank, the State Bank of India, also contributed to the market reaction.