Consistent growth of 7-8% is within reach: CII president

India’s macroeconomic resilience offers a unique window to deepen manufacturing, push exports, and formalise strategic trade partnerships amid slowing global growth, Confederation of Indian Industry (CII) president Rajiv Memani told Mint in an interview.

- Rhik Kundu

“India has been the fastest-growing large economy in the world for the last three years, something that hasn't happened before,” Memani said.

“I think we are standing at a really strong position. Growth is important, but also equally important is how strong your (corporate) balance sheet is. And India’s balance sheet, at multiple levels, is very healthy,” he added.

Memani pointed to reduced fiscal deficit, strong banking sector health, and a vibrant capital market, asserting that “the strength of the institutional framework of India, the political and policy stability, if I compare with most markets in the world, it’s very strong”.