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End of war, covid will set stage for private investments: Sanjiv Bajaj

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NEW DELHI : A little more pick-up in capacity utilization in factories, which are now running at more than 70%, and a reasonable resolution to the Russia-Ukraine war will create the right tailwind for a revival in private investment, said Sanjiv Bajaj, the newly-elected president of the Confederation of Indian Industry (CII).

Businesses in the formal sector, especially technology firms, are steadily hiring people, said Bajaj, also the chairman and managing director of Bajaj Finserv Ltd.

A normal monsoon will help tame food price inflation, while tax cuts could help moderate energy price inflation, Bajaj said in an interview, adding that businesses are expecting clues from the Reserve Bank of India on the roadmap for the expected monetary tightening.

Edited excerpts:  Retail price inflation has surged to an eight-year high in April. What is the impact on industry? Will it drag down consumption? Multiple factors are impacting the economy now.

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