Key Points
Private sector investment is set to witness a significant increase, as capacity utilisation in several key sectors has already crossed 80 per cent and economic growth is estimated to be 6.7 per cent in the current financial year, newly elected CII President R Dinesh said on Sunday..
On why the government unsuccessfully keeps on nudging private companies to increase investment, the CII president told PTI that the period between 2016 to 2019, was not good for growth and in 2020 there was COVID...
"We are at the cusp of where private sector capex will see a significant increase happening," he said, adding that as per the CMIE data investment commitment of Rs 25.7 lakh crore was made last year, as compared to Rs 14.3 lakh crore a year ago...
La Nina refers to the phase of cooling of the sea-surface temperatures than normal.. Further, he said that the continued focus of the government on increasing spending to develop modern infrastructure is a "big blessing" in ensuring that the economy grows and is also building a virtuous cycle...
"Today we see some of the worrying factors starting to alleviate," Dinesh added.. Further, on Germany entering into economic recession and its impact on India's exports, he said that as per the feedback, the recession is not going to be long-drawn and in fact it is for a very short period...
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