{"id":165222,"date":"2025-12-03T03:12:09","date_gmt":"2025-12-03T03:12:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/165222\/"},"modified":"2025-12-03T03:12:09","modified_gmt":"2025-12-03T03:12:09","slug":"situation-is-ripe-for-a-rate-cut-ficci-chief","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/165222\/","title":{"rendered":"Situation is ripe for a rate cut: Ficci chief"},"content":{"rendered":"

\"Situation NEW DELHI: While asserting that Indian macroeconomic fundamentals are strong and tax cuts will help boost private sector investment, Anant Goenka, the newly elected Ficci president and vice-chairman of the RPG Group, on Tuesday suggested that the Reserve Bank of India<\/a> should lower interest rates.\u201cThe situation is ripe for a rate cut. Inflation was better than expected. RBI should continue its momentum on rate cutting and pushing towards growth,\u201d he said. Goenka mentioned that there was not much risk to Indian businesses as inflation was under control, the fiscal parameters were healthy, bank and corporate balance sheets were clean and the economy was growing fast. \u201cMacro risks are minimal\u2026 The only stress point was the US trade agreement, but should be resolved soon, as both sides have indicated.\u201dGoenka noted that the impact of US tariffs on Indian businesses was confined to a few sectors such as gems and jewellery, garments, and shrimp. \u201cDiversification to other geographies helped, FTAs may have played a part, and general industry outreach also helped. In fact, the newer FTAs are seeing very good utilisation,\u201d he said.When asked about private investment, he said, a pickup was expected soon as capacity utilisation is improving. \u201cThere were some challenges on demand for a few years like high debt, Covid drying up demand, inflationary pressures, and global shocks. But things now look far more stable. With income-tax and GST changes putting nearly Rs 2.5 lakh crore into consumers\u2019 hands, we\u2019ve seen demand pick up strongly since Oct, which should largely sustain.\u201dWhile promising to work with govt for smooth implementation of the labour codes, Goenka suggested that there was a need to work on easier rules for land acquisition, cheaper power, and uniformity in rules across states.In the Budget, he said, govt should focus on further indigenisation of defence production, a 30% increase in defence capex, along with a dedicated Rs 10,000-crore allocation for DRDO. A mega electronics and IT park that clusters OEMs and assemblers in a plug-and-play ecosystem and the inclusion of tailings (industrial waste) from mining under the Critical Minerals Mission were the other items on his budget wish list.\u201cExports should be an area of focus,\u201d Goenka said regarding Ficci\u2019s budget recommendations. \u201cRoDTEP outlay can be on the higher side. Rs 18,000 crore was allocated, but we feel more can be done there, as done with the exports promotion mission.\u201dGoenka also stated that a core focus area for Ficci would be to increase manufacturing from 15% of GDP to 25%, which will require the industry to push harder on R&D, quality, sustainability, women\u2019s participation, and MSME capability, as well as leveraging FTAs to make the industry more resilient in a changing global scenario. \u201cWe are not asking the govt to do everything\u2026 Indian industry has to up our game further. And I think on trade, particularly a global push by Indian companies is important. I think we need to be much more global in our outlook as an industry rather than focusing just on India,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"NEW DELHI: While asserting that Indian macroeconomic fundamentals are strong and tax cuts will help boost private sector…\n","protected":false},"author":2,"featured_media":165223,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[98753,114,98751,184,3472,85,46,98752,10422,21274],"class_list":["post-165222","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-anant-goenka","tag-business","tag-defence-production","tag-economy","tag-exports","tag-il","tag-israel","tag-macroeconomic-fundamentals","tag-rate-cut","tag-reserve-bank-of-india"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/165222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=165222"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/165222\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/165223"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=165222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=165222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=165222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}