CII president Sanjiv Puri advocated the need to sign free trade agreements, especially with the European Union and streamline customs tariff structure.

Addressing the eastern regional meeting 2025, Puri said FTA with the EU held significant importance to India.

“It has been under discussion for two decades. So, hopefully, this year we should see the culmination of many such FTAs,” Puri, who joined the event virtually, said.

CII president Puri, who is also chairman of ITC Ltd, pointed out that 70 per cent
of global trade happens through the global value chain and emphasised the need for FTAs.

Speaking before him, Rajiv Memani, president designate of CII, said the resilience of India’s growth story was quite strong but cautioned of headwinds in next six months.

He pointed out that corporate houses are a little hesitant in taking up capex.

“They want to defer the decision by 3-6 months because they are unable to predict the impact of China, tariff and everything else,” Memani, CEO of EY India, said.

During the meeting, CII members elected Shashwat Goenka, vice-chairman of RPSG Group, as the chairman and Mehul Mohanka, managing director and group CEO of Tega Industries, as the deputy chairman of CII eastern region council for FY26.