ECONOMY

CII puts out a slew of reform measures to boost economy, calls for real GDP growth of 7.3%

The Confederation of Indian Industry (CII) has unveiled a blueprint to accelerate India’s economic growth through a raft of reforms. The CII’s plan includes factors of production, a simplified, single GST structure, rationalised tariffs and implementation of labour codes.
In its report, Policies for a Competitive India, the industry body has laid out more than 250 actionable recommendations across 14 critical reform areas aligned with the government’s Viksit Bharat vision. The CII has added that achieving the goal of Viksit Bharat – a $351-trillion economy by 2047 – would require a real CAGR of 7.3 per cent.
“While Indiaʼs performance in global indices, such as ease of doing business, innovation, logistics performance and competitiveness, has improved, the country still underperforms relative to its size and capabilities,” it has said.
Among its suggestions, the CII has emphasised fiscal prudence, inflation management and modernised statistical systems. To make the public sector more efficient, it has recommended privatisation of non-strategic public sector enterprises, creation of a sovereign wealth fund and stronger governance. For factor market reforms, it has pushed for digitalised land titling, streamlined labour codes, a national minimum wage framework and fast-tracking of dispute resolution.
On energy security, the CII has recommended competitive tariffs, elimination of cross-subsidisation, stronger transmission networks, private participation in nuclear energy and a green hydrogen roadmap. To strengthen manufacturing, it has proposed addressing the “missing middle” through capital support, industrial corridors and enhanced freight connectivity.

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