Ajay Singh, the CEO of SpiceJet, has been elected President of the Associated Chambers of Business and Industry of India (ASSOCHAM). Singh succeeds Sumant Sinha, the former Managing Director of Renew Power, who has left the chamber.

Sanjay Nayar, the Founder and Chairman of Sorin Investment Fund, has been appointed as ASSOCHAM's next Senior Vice-President.

Singh stated in a statement that he is taking over at an exciting and challenging moment. "As an economy, India stands out as a strong performer in the face of global headwinds." Even while the world's main economies face recession, the Indian economy is growing at a rate of 6.5-7 percent," Singh stated after taking over as ASSOCHAM President.

Singh is also the President of the Boxing Federation of India and the International Boxing Association's Vice President.

He earned a bachelor's degree in engineering from the Indian Institute of Technology in Delhi and a master's degree in business administration from Cornell University in the United States. Singh also has a Bachelor of Laws (LLB) from the Law Department of the University of Delhi.