Puri added, “Despite all these difficulties across the world, India is doing well. There are lots of opportunities that we should focus on. India is well placed geo-economically today and the world is clearly looking for resilient supply chains.”
The services economy presents another great opportunity, given the demographic challenges worldwide and India’s advantages, Puri added.
India’s booming services economy continues to attract investment, particularly in Global Capability Centers (GCCs), as more multinational companies set up their back-end operations in the country.
Sanjiv Puri stated that India has several opportunities for growth, but the focus should remain on competitiveness, human capital development, and trade agreements.
He highlighted the government’s strong push for Free Trade Agreements (FTAs), which has opened new avenues for economic expansion. According to Puri, FTAs are a positive step that can create significant opportunities for Indian industries.
Puri noted that rural demand is on an improving trajectory, supported by a strong wheat crop, although rising temperatures pose some concerns. Ongoing reforms, rising investments, and job creation are expected to drive further economic growth in the coming quarters.
Additionally, income tax relief measures are contributing positively to consumer sentiment.
However, he cautioned that food inflation remains a key risk, given its persistent nature.
Another significant challenge, he pointed out, is the dumping of excess capacity products by global players, which limits opportunities for Indian industries in both domestic and international markets.
ITC’s current market capitalisation is ₹5,09,825 crore. The stock is currently trading at ₹407.40 as of 3:34 pm on the NSE and has declined 4% over the last year.
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(Edited by : Unnikrishnan)
