Industry chamber Ficci on Saturday said Arun Chawla has been appointed as its new director-general.
"We are delighted to welcome Arun Chawla in his new role. Ficci would surely benefit from his long experience in the organization and his earlier stint in the corporate world," said Ficci president Uday Shankar said.
Chawla will assume charge with immediate effect. He joined Ficci in 2011 and is currently the deputy secretary-general of the chamber.
India's economic growth
Meanwhile, Ficci recently marginally revised upward its FY22 growth forecast for the Indian economy to 9.1% from 9% estimated earlier.
"Economic recovery, post the second wave of the pandemic, seems to be holding ground and the same is also reflected in the incoming data on various high frequency indicators. The forthcoming festive season should support this momentum," Ficci said.
However, it cautioned that Diwali being a major festival and with some sense of complacency setting in with regard to the covid situation, the likely surge in people’s movement can again lead to a rise in number of new covid cases.
The median growth forecast for agriculture and allied activities has been estimated at 3.2% for FY22. A pick-up in monsoon rains in the latter part of the season and subsequent increase in kharif acreage is likely to keep growth expectations of the agriculture sector upbeat. Industry and services sector are projected to grow 12.9% and 8.6%, respectively, during the year.
Ficci’s Economic Outlook Survey was conducted in September and drew responses from leading economists representing industry, banking and financial services sector. Participating economists were also asked to share their opinion on upcoming monetary policy review and the future path of monetary policy.
There was unanimity that the Reserve Bank of India will maintain status quo on the repo rate and will continue with an accommodative stance in the forthcoming monetary policy.
