New Delhi— India’s real GDP growth is projected to range between 6.4% and 6.7% in FY26, reaffirming its status as the world’s fastest-growing major economy, according to the Confederation of Indian Industry (CII).
CII President Rajiv Memani said India continues to stand out as a “bright spot” amid heightened global economic and political volatility—arguably the highest seen in over two decades.
Speaking at a CII event in the national capital, Memani emphasized that competitiveness is India’s passport to prosperity.
“But it must be earned—through reform, innovation, and trust,” he said. “CII remains committed to partnering with the government, industry, and citizens to accelerate India’s transformation into a confident, competitive, and globally connected economy. Our domestic momentum is strong enough to weather external shocks.”
He added that in a world where the rules of trade and technology are constantly evolving, India must anchor its growth in competitiveness fueled by scale, productivity, innovation, and resilience.
“This is India’s moment—but we must act decisively to seize it,” Memani stressed.
To meet the country’s development and infrastructure demands while maintaining fiscal discipline, CII recommended increasing government revenues through calibrated disinvestment of public sector enterprises (PSEs).
“Roughly 10% of India’s total market capitalization—approximately ₹55 lakh crore—resides with PSEs. Divesting just 10% of this could generate around ₹5 lakh crore,” Memani noted. “These funds could be used to enhance public capital expenditure, reduce government debt, establish a Sovereign Wealth Fund for investing in strategic overseas assets, and acquire critical technologies.”
To address the issue of India’s “missing middle”—the gap in mid-sized enterprises—CII proposed a Capital Support Scheme for small and medium manufacturing companies that invest in R&D, technology acquisition, and job creation.
To lower business costs related to land, CII also suggested forming a dedicated Taskforce on ‘Land Availability at Affordable Rates’ to develop policy solutions that improve the competitiveness of the manufacturing sector.
To support India’s ambitious energy transition goals, CII called for sector-specific strategies, particularly in mobility, and advocated for the proactive development of Green Hydrogen and Renewable Energy hubs.
The organization also announced plans to launch a Mission on Energy Transition, aimed at encouraging Indian industries to adopt low-carbon alternatives. (Source: IANS)
