Industry leaders seek infra push, structural reforms for growth
Assocham has recommended accelerating investments through PPPs with a focus on key sectors like transportation, energy, water supply, and digital infrastructure
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New Delhi: With the government set to present the Union Budget 2024-25 on July 23, industry leaders and experts have reiterated the importance of structural reforms to drive sustainable and inclusive economic growth, especially the critical role of infrastructure development towards India becoming the third largest economy.
According to industry chambers, by prioritising structural reforms, strategic infrastructure development, targeted sectoral initiatives and a rationalised tax system, India can navigate current challenges and emerge as a stronger, more competitive economy in the long run.
Assocham has recommended accelerating investments through public-private partnerships (PPPs) with a focus on key sectors like transportation, energy, water supply, and digital infrastructure. This will enhance connectivity, improve productivity, and bolster India’s overall competitiveness.
In order to address the growing concern for environmental sustainability, the leading chamber of commerce urged the government to introduce policies and incentives that promote clean technologies, renewable energy sources, and sustainable practices across industries like agriculture, manufacturing, and transportation.
The government can further streamline regulations, expedite approvals and permits, and leverage digitalisation to attract investments and enhance operational efficiency, according to industry watchers.
