Green shoots in rural economy, moderating inflation puts India in sweet spot: ITC MD Sanjiv Puri

With inflation moderating, the interest rate pause expected in RBI policy on December 8, Puri said.

India is the best performing economy globally with shoots of recovery emerging for the rural sector and moderation of inflation though some concerns on trade remain, ITC Managing Director Sanjiv Puri said.

“Green shoots of recovery are emerging in the rural economy. Inflation is becoming moderate now. India is the best-performing economy. India’s potential is right on top because of initiatives by the government, Puri said on the sidelines of the CII Global Economic Policy Forum.

With inflation moderating, the interest rate pause is expected in RBI policy on December 8, he said.

On the concerns in the supply chains, the ITC MD said that though there are some issues because of trade restrictions and a slowdown of exports, there is global recognition of India as a strong source of services and manufacturing.

On the five-year extension of the free foodgrain scheme by the government, he said that the basic requirements of nutrition need to be fulfilled.
“We have to recognise that people must have basic requirements of food, nutrition. The support through the extension of the free foodgrain scheme is welcome,” he added.