In the words of ITC chairman Sanjiv Puri, India has emerged as a "beacon of growth" at a time when the world is grappling with serious issues affecting growth across all major economies.
Puri said in his address to shareholders at the company's annual general meeting that the country is buoyed by optimism and deeply engaged in fulfilling that promise, striding on the paths of clearly articulated goals and policies.
"What is remarkable is that such an outlook prevails at a time when the world is confronted with serious issues affecting growth in all major economies." In this environment of multiple crises and uncertainty, India has emerged as a growth beacon and will remain the world's fastest-growing major economy this year," he said.
Puri attributed India's resilient growth to a slew of policy measures implemented by the government under Prime Minister Narendra Modi's leadership.
"Some major policy initiatives include tripling public capital expenditures, best-in-class public digital infrastructure, the PLI scheme to attract private investment in focus sectors, establishing strong Farmer Producer Organisations supported by a multi-stakeholder integrated agri-stack to empower farmers, targeted welfare spending leading to impactful delivery of grassroots benefits," he said.
According to Puri, the progressive policy environment, favourable demographics, and India's growing stature on the global stage have heightened interest in leveraging India as a global hub for manufacturing, services, and exports.