Puri also highlighted the positive reception of the Union Budget by the industry. He noted that the Budget is both fiscally prudent and growth-oriented, with a strong focus on domestic drivers amid global uncertainties.
He emphasised that the Budget aligns with CII’s advocacy efforts, particularly in sectors such as labour-intensive industries, consumption boosts, capital expenditure (capex), and future-ready investments.
He also mentioned that improved weather conditions and better agricultural yields would further support the consumption boost.
Also Read | Budget 2025: CII infrastructure chief sees a shift in government’s spending approach
Koushik Chatterjee, Executive Director and CFO of Tata Steel, speaking at the CII National Council Meet, underscored the need to monitor tariffs on China, given their potential impact on the global ferrous industry.
“India is on a multi-decadal growth path. The Indian steel industry is highly competitive, but it must also earn its cost of capital. As an industry, we are prepared to expand significantly, provided the right enablers and efficiencies are in place,” Chatterjee stated.
He further emphasised the role of infrastructure in facilitating industrial expansion, pointing out that capital expenditure in heavy industries requires long-term planning and investment.
Also Read | Budget 2025 backs labour-intensive sectors for jobs and growth: Sanjiv Puri
Regarding the impact of Chinese tariffs, Chatterjee highlighted the need to observe global policy changes. “With nearly 30 countries currently investigating China’s trade policies, it will be crucial to see how the Indian government responds. If safeguard duties are implemented, it will provide policy certainty, making capex investment in the steel sector more attractive,” he said.
The discussions at the CII National Council Meet also saw insights from industry leaders, including Rajiv Memani, President Designate, CII; R Mukundan, Vice President, CII; Chandrajit Banerjee, Director General, CII; Jayant Acharya, Joint MD & CEO, JSW Steel; Umesh Chowdhary, Vice Chairman & MD, Titagarh Rail; and Bharat Puri, Managing Director, Pidilite.
For the full interview, watch the accompanying video
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