Private Capex Rising, Selective China+1 Policy Focus

CII President Sanjiv Puri, in a pre-budget consultation with the Finance Minister, highlighted India's economic progress. He emphasized rising private capex and its role in job creation, citing Q2 announcements as significantly higher than before. Puri addressed the selective approach needed for the China+1 strategy, noting India’s growing electronics sector. He also stressed boosting consumption, supporting high-labour-intensive sectors, and agriculture's critical role in driving economic activity. Additionally, he discussed the global challenge of China dumping stocks and urged for targeted policy actions to strengthen India's position in global markets.