Overview

• At his first press conference as CII president in New Delhi on July 3, Rajiv Memani forecast India’s economy to expand 6.4–6.7% in 2025-26.
• He pointed to a 100-basis-point CRR cut and a 50-basis-point rate reduction by the Reserve Bank of India that unlocked about ₹2.5 lakh crore of liquidity.
• Memani identified geopolitical uncertainty and external trade tensions as the main downside risks to sustaining growth momentum.
• The CII recommended trimming GST slabs from five to three tiers with rates at 5%, 12–18% and 28% to simplify the indirect tax structure.
• The industry body also urged rationalizing input tax credits, coordinating state audits, establishing a National Appellate Authority and enacting direct tax reforms with advance pricing agreements to reduce litigation.