As 2024 draws to a close, leaders from diverse industries have shared their reflections on the year gone by and their outlook for 2025. The year has seen both resilience and growth across sectors, from real estate to technology, education, and industrial manufacturing. With advancements in sustainability, technological integration, and economic recovery driving sectors forward, industry experts are optimistic about the future. Here’s what some of the leaders had to say:
Mr. Domnic Romell, Director, Romell Group and President, CREDAI-MCHI, the Apex Body for Real Estate in the Mumbai Metropolitan Region:
2024 has been a transformative year for the Indian real estate sector, marked by resilience and robust growth. The residential segment experienced a significant surge in demand, with a year-on-year increase of 12%, and a record 4.5 lakh units sold across major cities, including Mumbai. The Mumbai Metropolitan Region (MMR) alone accounted for over 35% of these sales, underscoring its continued dominance in the market.
Luxury housing stood out as a top-performing segment, registering a 30% increase in sales compared to last year, driven by investments from HNIs and NRIs. Government initiatives, particularly the emphasis on infrastructure projects such as the Mumbai Metro and the Mumbai Trans Harbour Link, have further accelerated the sector’s growth.
Commercial real estate also demonstrated remarkable resilience, with office space leasing projected to reach an all-time high of 50 million sq. ft. nationwide, reflecting a strong post-pandemic rebound in the business environment. Furthermore, integrating technology, green building certifications, and adopting ESG principles have positioned the sector for sustainable and responsible growth.
As we conclude the year, the real estate sector continues to be a cornerstone of India’s economy, significantly contributing to GDP and employment. The outlook for 2025 remains optimistic, with anticipated policy initiatives poised to further strengthen the sector’s growth trajectory.
Mr. Rohit Gera, Managing Director, Gera Developments –
The sales momentum of the past few years continued to 2024, marked by an increase in both, home prices and apartment sizes. Developers responded to the enhanced affordability of customers by offering larger-sized apartments at higher price points. Sales were robust during the first three quarters. However, as we approached the final quarter, it became evident that we may have reached the limit of affordability for consumers. Currently, inquiries have slowed marginally, and I believe this is primarily due to affordability constraints.
Looking ahead to 2025, the market could move in either direction. On one hand, a robust increase in salaries could boost affordability and drive growth. On the other hand, there is a possibility of a downturn if the market experiences oversupply. As we step into 2025, we do so with cautious optimism, hoping for an upward trend. However, only time will tell which direction the market will take.
Mr. Harishchandra Gupta, Chairman & Managing Director, Roto Pumps Ltd. – With more than 56 years of experience in the industrial pumps sector, Mr. Gupta is a true industry veteran, possessing unparalleled expertise and insight into the field.
“The industrial pumps sector in 2024 has demonstrated resilience and adaptability in the face of global challenges, driven by increasing demand from key industries like water management, renewable energy, and manufacturing. At Roto Pumps, we have achieved significant milestones, including launching innovative new products, entering emerging sectors, and expanding into key global markets. We have not only navigated supply chain disruptions and rising input costs but also leveraged innovation to deliver value to our customers. These achievements are bolstered by supportive government initiatives aimed at promoting industrial growth and sustainability.
Looking ahead to 2025, we see tremendous opportunities in sustainability-focused technologies, green energy projects, and infrastructure development. Our unwavering focus on innovation and strategic expansion positions us for robust growth and a pivotal role in shaping the future of the industrial pumps industry.”
Mr. Anurag Gupta, Jt. Managing Director, Roto Pumps ltd.
“In 2024, India’s pump industry experienced significant growth, propelled by increased demand across various sectors. The agricultural pump segment, in particular, saw revenue growth of 8-10% in the current fiscal year, driven by resilient domestic demand for conventional pumps and a surge in the adoption of solar pumps under the PM KUSUM scheme and Jal Jeevan Mission.
Looking ahead to 2025, the industry is poised for continued expansion. CRISIL Ratings projects a 7-9% revenue growth for agricultural pump manufacturers, with solar pump volumes expected to increase by 20% year-on-year, supported by anticipated reductions in pump prices and ongoing government initiatives.
Additionally, India’s Biogas sector is set to attract over Rs. 2000 Crores in investments over the next year, reflecting the nation’s growing demand for green energy.
These developments underscore a positive trajectory for India’s pump industry, with technological advancements and supportive policies fostering sustained growth in the coming years.”
Mr. Hemant Sapra, President, Global Sales & Marketing, KARAM Safety
“2024 saw significant advancements in the safety industry, with a strong focus on technology integration and holistic occupational health and safety. We anticipate continued growth in 2025, driven by stricter regulations, increased safety awareness, and the adoption of innovative solutions like AI-powered safety systems.”
Mahesh Ravaria, Co-founder and CEO, Beauty Garage Professional
Looking ahead to 2025, the Indian hair care industry is set to see many ‘Make in India’ brands reach international standards with proper quality and standardization. This will help India become a trendsetting market in the global hair and beauty sector. The industry, worth about USD 5.85 billion in 2024, is expected to grow quickly due to increasing demand for effective and wellness-focused products. With a growth rate of 8.8%, there will be more products that protect against pollution and improve hair health. Digital platforms, e-commerce, and social media will significantly influence consumer choices, making personalized hair care more accessible. The outlook for 2025 offers great potential for innovation for India.
Siddharth Rajgarhia, Chief Learner and Director: DPS Varanasi I Nashik I Lava Nagpur I Hinjawadi
Co-Founder: Equanimity Learning
As 2024 draws to a close, it fills my heart with pride and gratitude to reflect on a year of remarkable achievements. From witnessing our students emerge as zonal toppers in board results and securing countless victories in sports to one of our own making it into the Guinness Book of Records—this year has been nothing short of extraordinary. Our young authors showcased their brilliance, and we welcomed a new chapter with the opening of Delhi Public School Hinjawadi, nurturing a success mindset and creating boundless opportunities for the changemakers of tomorrow.
Ending the year with a meaningful milestone, I co-founded Equanimity Learning, a platform committed to redefining education by fostering 1% daily improvements for a better society. As we step into 2025, I wish everyone a year filled with learning, growth, and success. Let’slet’s continue to provide transformative experiences for young minds to thrive and build a Viksit Bharat.
Mr. Siddharth Agarwal, Founder and Managing Director at Mobicule Technologies says: As we reflect on the past year, it’s evident that the debt collection and fintech industry has undergone transformative changes. At Mobicule, we’ve been at the forefront of this evolution, delivering flexible, plug-and-play solutions that seamlessly integrate with existing bank systems. Our commitment to security, compliance, and innovation has enabled financial institutions to connect with borrowers more effectively and redefine the debt resolution process.
Looking ahead, we’re optimistic about the future. The new year presents exciting opportunities to further enhance our solutions, adapt to emerging trends, and drive meaningful impact. Our vision remains clear: to build the future of debt resolution, one innovation at a time.
