Sajjan Jindal Optimistic About India's Growth Amid Middle East Conflict
Iran war impact won't last beyond 2 months; India growth story to continue with lot of capex: Sajjan Jindal
Image: The Economic Times
Sajjan Jindal, chairman of JSW Group, believes the ongoing conflict in the Middle East will have a temporary impact on India's industrial growth, lasting no more than two months. He emphasizes that long-term capital expenditure plans by industries will continue, driven by healthy balance sheets and initiatives like 'Make in India' and electric vehicle manufacturing.
- 01Jindal predicts that the Middle East conflict will not hinder India's industrial growth beyond two months.
- 02He highlights the robust capital expenditure plans of industries, which are increasingly investing in long-term projects.
- 03JSW Group is focusing on electric vehicle manufacturing to align with India's vision of reducing oil imports.
- 04The proposed 25-million-tonne steel plant in Gadchiroli is set to advance once raw material access is secured.
- 05IIM Nagpur has made significant progress in rankings and placements, indicating its growing reputation in business education.
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During the tenth convocation of IIM Nagpur, Sajjan Jindal, chairman of JSW Group, expressed optimism about India's economic resilience amidst the ongoing Middle East conflict, which he believes will not last beyond two months. Jindal emphasized that industries are focused on long-term growth, with many companies planning capital expenditures that span decades. He noted that the health of corporate balance sheets is facilitating increased investments, particularly in the electric vehicle sector, which aligns with Prime Minister Narendra Modi's 'Make in India' initiative aimed at reducing foreign exchange outflows. Jindal also discussed the planned 25-million-tonne integrated steel plant in Gadchiroli, which is set to proceed once the group secures access to necessary raw materials. Meanwhile, IIM Nagpur has achieved a notable ranking of 25th in the National Institutional Ranking Framework for management education, reflecting its rising prominence in the educational landscape. The institute reported a 15% increase in student placements compared to the previous year, with the highest salary package reaching ₹73.17 lakh per annum.
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The ongoing capital expenditure by industries, particularly in electric vehicles and steel manufacturing, is set to bolster India's economy and reduce reliance on imports.
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