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CII President Urges India to Accelerate Growth and Reforms
India’s economy grew by 7.8% in the latest quarter mentioned.
R Mukundan, a business leader, said India should try to grow even faster, closer to 8% or 9%.
He said manufacturing and creating jobs are important for this goal.
He also wants businesses to be able to operate more easily, at lower cost and with less waiting.
Mukundan said reforms made by the central government should work consistently in states and cities.
He believes government incentives can help new industries get started and attract customers.
Once an industry becomes strong and financially sustainable, those incentives could be reduced.
He also said companies may struggle with higher energy and raw-material costs.
On digital payments, he called for a balance between keeping payments inexpensive and funding security and expansion.
R Mukundan said India should lift growth beyond 7.8% toward 8-9%.
He identified manufacturing, job creation and faster business processes as priorities.
Mukundan said central reforms must be implemented consistently across states and cities.
He supported early PLI assistance but said support could decline after sectors achieve scale.
He urged stakeholders to balance UPI investment needs with keeping digital payments affordable.
- Who
- R Mukundan, President of the Confederation of Indian Industry and Managing Director and Chief Executive Officer of Tata Chemicals.
- What
- He called for India to accelerate economic growth toward 8-9%, improve the speed and ease of doing business, and refine industrial and digital-payment policies.
- Where
- India, including its states and cities.
- When
- The comments followed India’s 7.8% growth in the latest quarter referenced in the article; no specific date was provided.
- Why
- To sustain economic momentum, strengthen manufacturing and job creation, manage business costs, support industries and maintain affordable digital payments.
Key facts
- Latest quarterly growth
- 7.8%
- Growth target advocated
- 8% to near 9%
- Business priorities
- Manufacturing, jobs, and improving the ease, cost and speed of doing business
- PLI position
- Early government support remains useful, but support can be reduced after sectors reach scale and financial sustainability
- PLI assessment
- The scheme’s impact differs across sectors and may need changes where results are weaker than in electronics
- Cost pressures
- Elevated commodity and energy costs
- Digital payments issue
- Stakeholders should balance security and expansion investment with cost-effective UPI payments
Quotes
R Mukundan
CII President and Managing Director and CEO of Tata Chemicals
“In fact, accelerating the momentum beyond 7.8% into 8%, closer to 9%, is a imperative which India needs to focus on.”
CNBC TV 18
Sources
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