Sajjan Jindal, Chairman of the JSW Group, said on Saturday that India’s growth journey will continue unabated, driven by significant capital expenditure across different parts of the country. While interacting with media persons at IIM Nagpur, Jindal said, “Today, the pace of capital expenditure is increasing because the balance sheets of the majority of Indian companies are showing healthy growth, and therefore, there is a lot of investment planned by the industry for manufacturing in India.” Commenting on the Middle East crisis, Jindal acknowledged that the conflict is certainly a setback for India’s industrial growth. However, he termed it a temporary phase. “Everybody understands that this is not going to stay for a long period.

 

It can get over in a month’s time or two months at the most. Whereas the industries look for a very long-term - 20 years, 25 years, 50 years. So, India’s growth journey will continue,” he added. In reply to a query regarding the JSW Group’s investment in a steel plant in Gadchiroli, Jindal stated that mining has commenced in the area and there is now complete peace regarding Naxalite activities. “JSW has already committed to building a very large, 25-million-tonne integrated steel plant in Gadchiroli. It will start as soon as we get our mines ready and start receiving raw material,” he said.