Businesses need to step up their research and development spending, and the industry expects the government to sustain the growth in budget allocation for capital expenditure as these two would help the Indian industry to become more competitive in global markets, Harsha Vardhan Agarwal, president of Federation of Indian Chambers of Commerce and Industry (Ficci), and vice-chairman and managing director of Emami Ltd, said.
In an interview to Mint, Agarwal also downplayed the government's concerns that private sector salaries were not keeping pace with their multi-year-high profitability, saying that the need to retain talent ensures salary increments in the private sector.
This story is from the December 14, 2024 edition of Mint Mumbai.
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This story is from the December 14, 2024 edition of Mint Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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