Investments would be required to shore up production not only because of domestic demand, but exports would also drive growth, said Omkar Goswami, chief economist of the Confederation of Indian Industry (CII), at the session on manufacturing. He said exports growth would come primarily in four key areas: automobile components, some segments of the automobile industry, including two-wheelers, pharmaceuticals and steel.
Several key industrialists and senior executives, including Rahul Bajaj of Bajaj Auto, Yogi Deveshwar of ITC, Adi Godrej of Godrej Industries, Sanjeev Goenka of the RPG group and Carlo M Donati of Nestle India, said demand would spurt in the next few months as rural consumers spent more following a good monsoon .
