The Confederation of Indian Industry (CII) expects the country's economic growth to be 8.5 per cent this fiscal with a robust recovery in the farm sector, its new president Hari S Bhartia said on Thursday.
Addressing his first press conference, Bhartia said the recovery expected in the agriculture sector would go a long way in pushing the overall economic growth.
"Industry and services will also remain strong as capacity expansions take place to take advantage of rising demand," said Bhartia, who took over the reins from TVS Group's Venu Srinivasan.
Bhartia is the managing director of pharma company Jubilant Organosys. He holds a degree in chemical engineering from the Indian Institute of Technology (IIT), Delhi.
The industry lobby also has a new vice president, B. Muthuraman, vice chairman of Tata Steel, for this financial year.
Muthuraman, who spearheaded the takeover of Anglo-Dutch steelmaker Corus, holds a degree in metallurgical engineering from IIT Madras and a masters in business administration from Jamshedpur's Xavier Labour Relations Institute.