We hope RBI will opt for a pause on rate hikes: CII president Sanjiv Bajaj

Inflation is coming under control. You've got all the right tailwinds for growth. And so we hope that RBI will take a pause on rate hikes, says Sanjiv Bajaj, President, CII

Days after Prime Minister Narendra Modi exhorted the private sector to increase capital expenditure, Confederation of Indian Industries (CII) President Sanjiv Bajaj said private sector capital expenditure depends on consistent demand and needs a minimum return on investment. In an interview with Arup Roychoudhury, Bajaj said there was a need for a production-linked incentive (PLI)-like scheme in sectors like tourism, logistics, animation, etc, to create more jobs. Edited Excerpts:

What is your outlook for the economy and the corporate sector for financial year 2023-24 (FY24)?

Our economy has shown that it’s capable of resilient growth. In a situation of global