Daijiworld Media Network - New Delhi

New Delhi, Jul 3: India’s real GDP growth is expected to be in the range of 6.4 to 6.7 per cent in FY26, reaffirming its position as the world’s fastest-growing major economy, according to the Confederation of Indian Industry (CII). Amid rising global uncertainty, CII President Rajiv Memani underscored India’s unique standing as a beacon of stability and momentum in an otherwise turbulent global economic landscape.

Speaking at a CII event in the capital, Memani said that India’s pathway to long-term prosperity lies in competitiveness — but one that must be earned through reform, innovation, and trust. Emphasising the need for bold and timely action, he noted that the country’s strong internal growth engines can help cushion against external shocks, and this resilience must now be harnessed to push forward decisively.

In a rapidly transforming global order, where trade dynamics and technology norms are evolving fast, Memani called for anchoring India's growth strategy in scale, productivity, innovation, and resilience. He stressed that this is India’s moment to lead — but only if action is swift and strategic.

To meet infrastructure and development demands while maintaining fiscal stability, CII has proposed leveraging disinvestment as a revenue augmentation strategy. With public sector enterprises accounting for nearly Rs 55 lakh crore in market capitalisation, the industry body recommended divesting 10 per cent — potentially unlocking Rs 5 lakh crore. These funds, Memani suggested, could be directed toward ramping up public capital expenditure, reducing government debt, establishing a Sovereign Wealth Fund for strategic global investments, and acquiring critical technologies.

Addressing the structural challenge of India’s "missing middle" in the manufacturing sector, CII has proposed a dedicated Capital Support Scheme to empower small and medium enterprises involved in R&D, technology adoption, and job creation. On land-related cost hurdles that constrain competitiveness, CII recommended forming a special taskforce to devise actionable policies for ensuring affordable industrial land availability.

CII also placed strong emphasis on meeting India’s clean energy goals. It called for sector-wise strategies for mobility, the creation of Green Hydrogen and Renewable Energy hubs, and the launch of a dedicated Mission on Energy Transition. The mission aims to mobilise industry-wide efforts to adopt low-carbon solutions and contribute meaningfully to India’s net-zero commitments.