Kumar, a well-known economist and the author of several books, would succeed Amit Mitra, who has become the Finance Minister of West Bengal.
He joined Ficci as director general in October, 2010.
Earlier, he was Director and chief executive of an economic think-tank, the Indian Council for Research on International Economic Relations.
"I see this as one of my most challenging assignments, which will not only require my total commitment, but will also serve as a substantial learning experience," Kumar said.
Image: Rajiv Kumar