Railways, Manufacturing, And Deep Tech To Propel India's Growth, Says Ridham Desai

The market veteran expressed optimism regarding India's economic trajectory, focusing on these sectors' pivotal roles in driving growth. Improving the efficiency and speed of cargo trains can lower logistics costs, benefiting businesses by reducing transportation expenses, he noted. Desai also highlighted the railways' crucial role in infrastructure development.

"Railways hold immense potential for reducing logistics costs and improving overall efficiency," he told NDTV Profit in an interview on Tuesday. He cited ongoing reforms and efficiency improvements as factors contributing to the sector's growth prospects.

Desai also underscored the importance of infrastructure development. "Infrastructure is a crucial area for investment and growth," he said.

The government's focus on infrastructure spending will create new assets and improve existing infrastructure, such as roads, railways, and energy networks, Desai said. "Investments in infrastructure will have multiplier effects on the economy, creating opportunities for businesses and driving economic growth."

The manufacturing sector could gain a larger share of India's GDP over the next decade, according to Desai. He anticipates continued government support for manufacturing through incentives such as rationalising the Goods and Services Tax, infrastructure development, and foreign direct investment.

The sector could also drive job creation and economic expansion, especially as India aims to position itself as an alternative to China in global supply chains, the top executive said. "Manufacturing will play a pivotal role in boosting job creation and driving economic growth."

Desai also emphasised deep tech's transformative impact on sectors like healthcare, finance, and agriculture. "Deep tech innovations have the potential to revolutionise traditional industries, driving innovation and efficiency."

Deep tech is a catalyst for technological advancement and sustainable growth in the Indian economy, he said.