India Inc, government not on same page on growth, investments, inflation

Nearly two-thirds of CEOs of large corporates expect India’s GDP growth in 2021-22 to be 9% or less.

Indian industry does not seem to share the government and the Reserve Bank of India’s optimism about this year’s growth prospects, according to a poll of CEOs conducted by the Confederation of Indian Industry (CII). Nearly two-thirds of CEOs of large corporates polled by CII at its national council meeting earlier this month expect India’s GDP growth in 2021-22 to be 9% or less. The central bank has recently downgraded its GDP growth projection for the year to 9.5% from 10.5% earlier, while the Chief Economic Advisor Krishnamurthy Subramanian expects growth to be at 11% as estimated in the Economic Survey.