PwC India Chairperson Sanjeev Krishan Stresses Tailored Approach for Economic Growth

68
1
PwC India Chairperson Sanjeev Krishan Stresses Tailored Approach for Economic Growth

PwC India Chairperson, Sanjeev Krishan, in a recent statement to PTI, underscored the critical necessity for the Modi 3.0 administration to implement a detailed and tailored approach to bolster small enterprises, drive job creation, and propel inclusive economic advancement. Krishan outlined crucial focus areas, including the promotion of auxiliary sectors and a heightened concentration on enhancing urban and rural infrastructure ventures.

Krishan stressed the significance of concentrating on job creation and enhancing productivity to achieve comprehensive growth, acknowledging the advancements in ease of doing business, infrastructure enhancement, and credit accessibility in the previous decade. He highlighted the urgent need for supporting job generation and boosting commerce in smaller regions through a targeted strategy, recommending regulatory backing and incentives like Production-Linked Incentive (PLI) programs to foster innovation.

Additionally, Krishan advocated for establishing user-friendly research centers, administered either by the government or private entities, to facilitate market entry for startups, especially in sectors such as renewables, electric mobility, semiconductors, and artificial intelligence. He also emphasized the importance of initiatives aimed at enhancing credit availability, constructing dedicated corridors, and fortifying agricultural infrastructure to generate job opportunities, enhance supply chains, and position India as a competitive manufacturing hub internationally. Krishan's positive economic outlook for the current fiscal year is supported by anticipated improvements in rural consumption, positive agricultural trends, and favorable monsoon predictions, with a particular emphasis on urbanization as a key driver of India's economic advancement.

Furthermore, Krishan highlighted that a strong emphasis on infrastructure development is crucial for enhancing India's global appeal and creating prospects in the tourism sector, underscoring the potential for economic development, improved infrastructure, and increased access through urbanization.