Home / Knowledge / News / GDP growth in Q1 indicates turnaround - FICCI
GDP growth in Q1 indicates turnaround - FICCI
31
Aug '09
Reacting to the latest quarterly GDP estimate, Mr. Harsh Pati Singhania, President, FICCI said “This growth on a sequential basis from 5.8% in the fourth quarter of 2008-09 to 6.1% in the first quarter in 2009-10 is an indication of a turnaround in the economy”.

“Several key segments of the economy such as mining and quarrying, electricity, gas and water supply and financing, insurance and real estate have recorded higher growth on year on year basis. With global recession bottoming out we expect other sectors such as trade, hotels, transport and communication and manufacturing to accelerate their pace of growth in the coming months and contribute to overall GDP”, he added.

“While the performance of the agriculture sector has been a little disappointing, we are still hopeful of achieving an overall growth of 6.5% in the year 2009-10. The stimulus measures taken by the government are yielding results on the ground and there is a clear case for continuing with these for some more time”, said Mr. Singhania.

The first quarter GDP numbers show picking up of the pace of economic activity over a wide range of sectors compared to last year. They also highlight that despite weak performance of the agriculture sector, the economy is showing a turnaround.

FICCI is hopeful that the manufacturing sector would gather pace as the year progresses. Further, segments like trade, hotels, transport and communication should also gain momentum as recession eases in different parts of the world.

On the whole, despite the drought and a decline in agriculture sector performance, FICCI is hopeful that the economy would clock a growth of 6.5% plus in the current financial year. FICCI supports the need for continuing with stimulus measures for some more time as phasing of these growth triggers can once again affect wide segments of the economy.

FICCI


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search