ASSOCHAM President Praises India's Economic Growth, Calls for Continued Infrastructure Investment

New Delhi, Jul 23 (KNN) India's economy has shown remarkable resilience and growth, even in the aftermath of the COVID-19 pandemic, according to ASSOCHAM President Sanjay Nayar.

In a recent statement in pre-budget discussions, Nayar highlighted several positive economic indicators, including a stable GDP growth pattern and an uptick in manufacturing and agriculture sectors.

Despite these positive signs, Nayar acknowledged some challenges facing the economy. He noted a slight decline in consumption patterns among lower-middle-income groups, attributing this to inflation and wealth loss during the pandemic.

However, he emphasised that India remains an attractive destination for foreign investments.

The ASSOCHAM President commended the government's efforts in managing the economy amid global challenges. He praised the government's performance, particularly considering the current geopolitical and geographic scenario.

Looking ahead to the 2024 budget, Nayar emphasised the importance of continued infrastructure spending. He suggested that "another couple of years of heightened spending on infrastructure is a good idea," indicating his belief in the long-term benefits of such investments for India's economic growth.

This statement comes as India prepares for its upcoming budget announcement, with many eyes on the government's plans for economic growth and development.

(KNN Bureau)