'India's economic narrative brighter, takes global lead'

Industrialist M Mangalam Birla, in his address to UltraTech Cement shareholders in the company’s latest annual report, highlighted India’s positive economic narrative and its potential for growth.

He emphasized the government-led push towards infrastructure investments and pragmatic policies like the production-linked incentives scheme, which have led to a surge in private sector capital expenditure. This surge in private investment is expected to trigger a multi-year economic boom, providing valuable support to economic growth despite softening global demand.

Birla praised India’s active role in the global economic evolution, positioning the country as a charismatic lead rather than a mere spectator. He noted that as global corporations adopt a ‘China plus one’ strategy and explore countries across Asia, India is well-positioned to benefit from this trend. The country’s growth momentum is further strengthened by the dynamism of its tech-based ‘new economy’ enterprises and the expanding digitization across various sectors.