Industry expects fast recovery, says CII president Uday Kotak

Industry now sees sectors witnessing better pick-up and capacity utilisation than what was projected in March.

Confederation of Indian Industry (CII) President Uday Kotak on Wednesday termed the recent high frequency data as “promising signs” of recovery in various sectors and hoped these, coupled with reforms in areas like labour and agriculture, will lead to a faster-than-expected rebound in economic activities.  

“Though still early, these are indeed promising signs, pointing towards some semblance of a recovery taking shape in various sectors. We expect economic activity to continue to normalise in the coming months,” said Kotak. 

Specifically, resilience in the rural economy, helped by a buoyant monsoon and government spending, and an accommodative monetary policy environment is expected to