Business: Need to improve priority sector debt structure, NTT data to invest more in AI in India

New Delhi| The Confederation of Indian Industry (CII) has pointed out the need to improve the credit structure for the priority sector. It has suggested involving emerging sectors and high-impact sectors like digital infrastructure, green initiatives, healthcare. CII says the roles of institutions like Small Industries Development Bank of India and National Infrastructure Financing and Development Bank are determined as they have identified areas for financing.

There is a need to form a high-level committee to consider amending the priority sector loan rules and to meet some new and emerging areas. Today the agricultural sector contributes 14 per cent to GDP, but its primary sector debt allocation remains at 18 per cent. It has remained unchanged since, when it accounted for more than 30%.

Japanese technology company NTT Data is preparing to increase its presence in India. It will expand operations in India by investing more in AI and digital solutions.

India can become a major producer of sustainable aviation fuel due to its ethanol supply and availability of non-edible industrial oils such as lipid feedstocks. Hemant Mistry, director of net zero conversion at the International Air Transport Association (IATA), said, there are some very good opportunities for India at this time. The necessary mechanism for sustainable aviation fuel has been developed, but more work remains to be done.