Cautioning that demand uncertainty will continue in the decade ahead, Chief Economic Advisor (CEA) V. Anantha Nageswaran on Thursday urged India Inc to increase investments and not conserve resources despite the 'repairing' of the balance sheets.
"So what is holding it (corporates) back? It is easy to say that there is general demand uncertainty. Post Covid, recovery has started. But one thing we have to remember is that this decade is going to be the decade of uncertainty, whether we like it or not. So for us to wait for the uncertainties to abate or recede, [its] like waiting for the waves to subside before taking a dip in the ocean. That is not going to happen," he said at a Confederation of Indian Industry (CII) event.
The CEA further said that the drivers of economic growth have to rebalance between consumption and investment, as usually the consumption has to be a residual in the growth cycle.
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