Indian industry leaders expect GDP to grow at 6.5% in FY24: Survey
- IBEF
- January 16, 2023
According to Deloitte Touche Tohmatsu India LLP (DTTILLP), about 60% of the business leaders who were surveyed by DTTILLP said that the gross domestic product (GDP) of India will grow at 6.5% during 2023-24. In addition to it, the industry sectors, chemicals, capital goods, and energy would witness high growth.
They also said government initiatives, such as Atmanirbhar Bharat, production linked incentive (PLI), favourable monetary policies by the Reserve Bank of India (RBI), increased spending on infrastructure, and research and innovation, will help in the growth of GDP.
About 60% of the respondents suggested raising funds through Indian government bonds and about 55% of the respondents suggested that public-private partnerships (PPP) should be encouraged to meet the funding gap. A majority of respondents see trade treaties as the medium for investment flows and providing an exchange of emerging technologies to strengthen their role in global value chains (GVCs).
Mr. Sanjay Kumar, Partner, DTTILLP stated that the Union Budget 2023-24 holds expectations from the industry to continue this growth and lead the country towards economic prosperity. He claimed that the government has adopted a focussed approach towards ease of doing business and enhancing industrial growth, generating employment, and increasing investments.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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