New Delhi, Oct 10 :Sanjeev Agrawal, the recently appointed president of industry group PHDCCI, has expressed concern that the continuing Israel-Hamas war may “adversely impact” India’s iron, steel, fertilisers, and organic chemicals sectors and has stressed the need for a peaceful conclusion for the sake of all parties involved.
We are really worried about the safe return of Indians to their homes amid the current confrontation between Israel and Hamas. In an exclusive interview with ANI, Agrawal emphasised the need for a peaceful conclusion for the sake of the global economy and the wellbeing of all parties involved.
He spoke about how India’s export industry is doing very well and how well India does business with Israel.
Agrawal predicted that the region’s trade expenses will rise as a result of the unknown routes, supply networks, and delays.
“If the crisis escalates, shipping bottlenecks, rising freight rates, and unpredictable delivery times will impact our global supply chain,” added the CEO.
The PHDCCI gave their word that the Indian government will protect the economy from shocks and volatility via reforms, just as they have in the past. The head of the industry group, PHDCCI, has pledged to work diligently with the government to execute the reform measures and to support Indian SMEs in the face of any difficulties they may face.
Agarwal said that the world is full of uncertainty due to recent global difficulties such as the COVID-19 epidemic and geopolitical concerns such as the Russia-Ukraine war.
But India has shown itself resilient by keeping inflation under control and drawing in FDI. In addition, “we at PHDCCI have been working closely with the government to keep India at the forefront of global economic discussions.”
The president of a business group highlighted the reforms that have made India what it is today, saying that AtmaNirbharAbhiyan, Make in India, Ease of Doing Business, Swachh Bharat Abhiyan, Digital India, and many others have not only strengthened domestic industries but also made India an attractive destination for global investors.
Agarwal shared his thoughts on the future of technology, focusing particularly on artificial intelligence, and he noted that the government has started a number of significant projects to advance AI and related technologies.
