By Kaushal Verma
New Delhi [India], January 2 : India's budget expectations are positive as strong GDP performance, robust industrial output reflected in recent IIP data, sustained reforms, improved ease of doing business and a clear government focus on job creation lift confidence in the economy and industry outlook, DCM Shriram Ltd Chairman Ajay S. Shriram said, told ANI.
"Our budget expectations are positive," Shriram told ANI on the sidelines of Shri Ram College of Commerce (SRCC)'s Centenary Curtain Raiser, Reaffirms Role in Shaping India's Economic Leadership. "The IIP index number is very positive, it just came this week, and GDP was very strong at the last point. It was very strong," he added.
According to a Ministry of Statistics & Programme Implementation release on Monday, India's Index of Industrial Production recorded growth of 6.7 per cent in November 2025, led by the Manufacture of basic metals and fabricated metal products, pharmaceuticals, and motor vehicles.
Shriram said the outlook for India's economy and industry remained constructive as policymakers increasingly focused on resolving issues rather than merely highlighting them. "We are looking at finding solutions for problems and not just raising issues," he said, adding that sustained reform efforts were visible across several areas.
He highlighted ease of doing business as one of the key areas where progress has been made. "Ease of doing business is a great area they have worked on, plus so many more," Shriram said, noting that reforms were critical to sustaining investment and industrial growth.
Shriram said the government was also acutely aware that job creation remained central to economic progress. "They know unless we create jobs, unless we give people opportunity to work and earn, the economy can't go forward," he said. "They are really positive on that and I'm sure they'll do something on that front."
Asked about India's growth outlook for the current year, Shriram said projections remained uncertain but broadly encouraging. "It's very difficult to say, but I think we should get definitely around 7%, plus minus," he said.
On India's longer-term ambitions to become the world's third-largest economy, Shriram said sustained growth at current levels would help move the country in that direction. "With the growth we are getting, if we get 7%, 8%, we should get a little higher hopefully," he said, adding that over a three-to-four-year horizon, India's economic position should improve significantly.
Shriram also spoke about global trade challenges, including the impact of U.S. tariffs, saying these posed difficulties for both India and the United States. "There are, of course, challenges," he said. "But the government has actually used this occasion to find alternatives."
He said India was actively engaging with the U.S. to reach a rational and transparent agreement. "We sincerely hope they come to some agreement with the U.S. government for the benefit of both countries," he said, adding that higher tariffs had raised import costs and affected consumers on both sides. "We have to look after our people first, and I support the government's approach towards being India first."
On sustainability, Shriram said DCM Shriram had taken several steps to reduce its environmental footprint, including introducing electric buses for employees. "Yes, we have," he said. "That is part of EV. We believe in a better society. We believe in pollution coming down."
He said climate considerations were increasingly shaping corporate decision-making. "We believe in climate change being not as erratic as it is now because of all these factors affecting climate change," Shriram said.
The company has also expanded the use of renewable energy across its manufacturing operations. "We've also gotten renewable energy in a big way for a factory in Gujarat, for a factory in Rajasthan, and we'll keep expanding that," he said.
Commenting on selling pressure seen in some GCM-related shares, Shriram said market movements were not the company's primary concern. "People want to buy or sell, that's up to them," he said. "Our objective is are we running a good, transparent company and how is the performance of that, because we've got multiple stakeholders."
Looking ahead, Shriram said DCM Shriram was preparing for increased competition and technological change. "Competition is going up, we are prepared for that," he said. "AI has to be adopted, digital has to be adopted, and we have to have a happier customer."