ITC Chairman Sanjiv Puri emphasized the importance of building resilient supply chains and increasing investments in research and development (R&D) and intellectual property to create strong Indian brands. He believes this will enable India to address new opportunities in emerging markets with innovative products. Puri made these comments in a statement on social media, where he also praised India’s recent GDP growth of 7.8% in the June quarter, despite global challenges.
According to Puri, India’s consumption-led economy and robust GDP growth trajectory will fuel opportunities across all sectors of economic activity. He described India as an “inspiring icon of resilience, growth and transformative opportunities” as it moves towards becoming the world’s third-largest economy. Puri attributed India’s strong economic foundation to progressive policies, purposeful reforms, and strong domestic drivers.
To achieve the vision of a “Viksit Bharat” (developed India), Puri stressed the need for a sharper focus on building resilient supply chains, enhancing R&D and intellectual property, and creating proudly Indian brands. He believes this will not only serve the domestic economy but also help India tap into new opportunities in emerging markets with innovative products.
Puri also highlighted India’s potential to become a global hub for manufacturing and a powerhouse of the service economy. He noted that with NextGen agriculture, India can also become the food basket of the world. As the chairman of ITC Group, Puri reaffirmed the company’s commitment to investing in scaling up its businesses and enhancing value addition in the economy through its presence in agriculture, manufacturing, and services.
Overall, Puri’s statement emphasizes the need for India to build on its economic strengths and create a more resilient and innovative economy. By investing in R&D, intellectual property, and supply chain resilience, India can create strong brands that will drive growth and opportunities both domestically and internationally. With its strong economic foundation and progressive policies, India is well-placed to achieve its vision of becoming a developed economy and a major player on the global stage.