## TLDR:
– Sanjay Nayar, President of Assocham, predicts strong growth for India in FY25.
– Nayar highlights the need for sustained focus on private investment to drive growth.
Sanjay Nayar, President of the Associated Chambers of Commerce and Industry of India (Assocham), predicts a growth rate of approximately 7.6% or more for India in the financial year 2024-25. He emphasizes the importance of private investment in driving this growth, calling on the government to maintain its capital expenditure push to encourage private investments. Nayar notes that rural consumption is on the rise, along with strong urban demand, and capacity utilization is at 75%, indicating potential for further capacity expansion in various sectors.
Nayar also points out that there is increasing investment in sectors such as hospitality and fintech, and expects foreign direct investment (FDI) to bounce back post the general election. He emphasizes the need for reforms in factors such as land, labor, and capital, and reducing logistics costs to create an environment conducive for private investments. Nayar also mentions the establishment of a start-up council under Assocham to support budding entrepreneurs and align objectives with the government to foster entrepreneurship and ease of doing business in India.
In conclusion, Nayar’s insights indicate a positive outlook for India’s economy in the coming years, driven by private investments and policy reforms.
