Which sectors to be biggest contributors in the next leg of growth? Kunj Bansal explains

economictimes.indiatimes.com:

Kunj Bansal, NISM, says “the benefit of investment into the core areas, into the infrastructure, into highway, into manufacturing will get passed on in terms of increased standards of living, higher earning standard of people, higher earnings, increased disposable income and things like that which will result into increased consumption.”

If we have to become the third largest economy, which are the sectors that will be the biggest contributors in the next leg of growth?
Kunj Bansal: For any economy to grow sustainably over a period of time, investments are very critical into the infrastructure areas, capital goods and manufacturing. Of course, these will be the critical areas where a lot of investments will have to go in. The derived impact of these automatically comes from the consumption areas. So the benefit of investment into the core areas, into the infrastructure, into highway, into manufacturing will get passed on in terms of increased standards of living, higher earning standard of people, higher earnings, increased disposable income and things like that which will result into increased consumption.
So that obviously will give a boost subsequently to consumer durables, consumer goods, textiles, passenger vehicles, two wheelers and things like that. Having said that, let us also not forget that India, while the contribution to the GDP from agriculture is third in terms of ranking, we have highest from service then from manufacturing and from agriculture around 20%.

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