India GDP Growth Forecast: Anant Goenka, the new president of industry body FICCI, said on Tuesday that India is in a “good position” for sustainable growth. On the basis of strong macro fundamentals and ongoing reforms, GDP is expected to grow at a rate of more than seven percent in the current financial year 2025-26.
Goenka said that in the coming year, the body’s focus will be on increasing the share of manufacturing sector in Gross Domestic Product (GDP) from the current 15-17 percent to 20-25 percent over time.
Prioritization
The industry body has set priorities to ensure this, such as increasing expenditure on R&D from 0.7 per cent of GDP to one per cent. Also strengthening industry-academia partnerships, supporting government efforts to promote ease of doing business, trade and supply chain security and enhancing manufacturing excellence.
Which includes focusing on quality, including women in the workforce and adopting sustainable practices. “I think GDP will grow at more than seven percent during 2025-26,” he said in an interview with PTI. “After all the changes in income tax bracket, Goods and Services Tax (GST) and changes in the Labor Code, I feel India’s macroeconomic position looks very strong with the reforms.”
FICCI President’s statement
Goenka, President of ‘Federation of Indian Chambers of Commerce and Industry’ (FICCI) said that the challenges on the trade front will also be resolved in a “very short” time. “So we are in a good position,” he said.
Private investment capital expenditure is also an aspect which is ready for change.” The FICCI chief said that, as capacity utilization increases, new investments by the industry will also increase. India’s economy grew at a faster-than-expected 8.2 percent rate in July-September, the fastest pace in six quarters.
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