The Confederation of Indian Industry (CII) anticipates India’s gross domestic product (GDP)
will achieve a strong 8 per cent growth in fiscal 2024-25 (FY25), marking the fourth
successive fiscal year with over-7 per cent growth, according to CII president Sanjiv Puri.
“The growth projection is heavily dependent on addressing the remaining reform agenda
promptly, along with improvements in global trade prospects boosting our exports, robust
performance of investment and consumption, and expectations of a normal monsoon among
other factors,” said Puri, who presented a 14-point plan for the new government to drive the
next phase of economic transformation.
He was speaking to the media for the first time since assuming the role of president of the
industry body.
His recommendations included continuing the government’s capital expenditure-driven
growth strategy alongside fiscal consolidation; developing human capital; enhancing ease of
doing business; lowering the cost of doing business; increasing integration with global value
chains; and speeding up the implementation of the ₹1-lakh crore fund aimed at promoting
innovation and research and development in the private sector, as announced in the interim
union budget for FY25.
Additional points in his agenda include establishing transparent, faceless, digital systems for
approvals and appeals; formulating a plan to combat climate change; diversifying funding
sources for non-banking financial companies; and creating an inter-state agricultural reform
council, according to a CII release.
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