sumant sinha: Need simpler GST regime, stable policy setting: Sumant Sinha, Assocham President

Assocham’s newly-elected President Sumant Sinha said that India needs a strong contract-enforcement agency, a simplified GST regime and simplified taxation process with a stable policy environment to facilitate ease of doing business.

India’s economy is poised for sustained high growth in the coming years, he said, flagging another Covid-19 wave and Russia-Ukraine as potential risks.

Sinha, chairman and managing director of Renew Power, took over as the chairman of the industry body on Monday. Also, SpiceJet Chairman and Managing Director Ajay Singh took over as the new Senior Vice President of ASSOCHAM.

“After Covid has hit economic activities for one and a half year, there has been a very good bounce and next year GDP growth is expected to be around 7.5-8%. Number of reform measures, strong exports and controlled inflation will ensure that The momentum will continue over the next year and beyond,” Sinha told ET in an interview.

Sinha, however, cautioned about the impact of the external environment on India’s growth story. “Having said that, of course, in all these situations, there are always some risks to development. One of them, of course, is the external environment, where there is some degree of uncertainty because there is a conflict going on, ” he told.

“The second thing, of course, is the Covid itself. Hopefully we have seen the last of the covid, but it is something we have to wait and see,” he said.

Originally published at Pen 18