2 hrs ago

Former Policymakers Outline Reforms, Capex and Manufacturing Growth Drivers

India wants its economy to keep growing quickly.

Rajiv Kumar said the government is spending a lot on public projects, but private companies must also invest.

He said this can help create more factories and jobs.

He also said the government should control debt and use its assets wisely.

Arvind Virmani explained that the Production Linked Incentive scheme helps companies become competitive by producing at a larger scale.

He said trade agreements could help Indian businesses sell more abroad and attract multinational companies.

K Subramanian said India needs more major reforms to reach sustained growth of 8–9%.

He believes manufacturing can create jobs, increase exports and reduce dependence on imports.

He also said state governments must help improve rules for businesses.

Key facts

Public capital expenditure: ₹13 lakh crore, according to Rajiv Kumar.
Private investment: Gross fixed capital formation increased by 11.9%, while the investment-to-GDP ratio reached 34%.
Growth target: K Subramanian said another round of structural reforms is needed for sustained growth of 8–9%.
Priority sector: Manufacturing was identified as important for exports, jobs, domestic production and reducing import dependence.
PLI scheme: Arvind Virmani said the Production Linked Incentive scheme helps industries address scale-related competitiveness challenges.
Trade agreements: Virmani said free trade agreements with high-income economies could support exports, supply chains and foreign direct investment.
State role: Subramanian said state governments must join reform efforts because many permissions and business regulations fall under their authority.

CNBC TV 18 · 3 hrs ago