Home / Knowledge / News / Textiles / 'India needs export boost to clock 8-10% growth'
'India needs export boost to clock 8-10% growth'
14
Jul '16
India should take the lead in pursuing the goal of open markets and develop an export-led strategy for strong economic growth as only domestic consumption cannot sustain an 8-10 per cent economic growth over the medium term, chief economic adviser Arvind Subramanian has said.

Subramanian also said Britain's vote last month to leave the European Union (EU) will only have muted impact on India's economy due to normal monsoons and easy monetary conditions.

"There will be some impact of Brexit on India. But broadly impact will be muted... We can't achieve 8-10 percent growth without outward-oriented growth strategy," Subramanian said at an event organised by 'India Policy Forum 2016' in New Delhi.

"If you (India) have outward--oriented growth strategy, you can sell in domestic markets also," he added.

On the economic growth still above 7 per cent level despite exports falling for the last 17 months, the CEA said India is not an exception and the decline in exports is due to slowdown in global demand.

Subramanian said the government's 'Make in India' initiative and efforts to improve manufacturing sector is essential to achieve higher growth rate.

He was optimistic that India can still achieve 15 per cent export growth and can raise service export from 0.2 per cent to 1.5 per cent.

He also spoke against protectionist measures adopted by developed countries, and said India and other developing countries should keep their economies open. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 29th May 2017

Special package creates 7,50,000 jobs in garment sector

The special garment package of Rs 6,000 crore that was introduced by...

Md Siddiqur Rahman, president, BGMEA, addressing a press conference with other dignitaries. Courtesy: BGMEA

Apparel/Garments | On 29th May 2017

BGMEA asks govt for 5% incentive for 2 years in Budget

The Bangladesh Garment Manufacturers and Exporters Association...

Textiles | On 29th May 2017

Tintex, Bruckner bring new effects to knitted fabric

The textile company Tintex has joined hands with the system supplier...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Marten Alkhagen
Swerea IVF AB

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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