Home / Knowledge / News / Textiles / CII chief predicts India to grow at 8% in 2016-17
CII chief predicts India to grow at 8% in 2016-17
16
May '16
Confederation of Indian Industry (CII) President Dr Naushad Forbes believes that India could notch up a growth rate of around 8 per cent which is higher than the projections by the World Bank and the IMF.

“India is expected to remain the fastest growing large economy of the world. It is likely to register a GDP growth of around 8 per cent in 2016-17, thanks to the expected normal monsoons, positive global investor sentiments, high FDI inflows, and low interest rates,” Dr Forbes said at a press conference in New Delhi recently.

He said that the agriculture sector is expected to grow at 3 per cent, while the industry and services are expected to grow at the rate of 8.2 per cent and 9.8 per cent respectively.

Talking about CII's new initiatives for 2016-17, Dr Forbes said CII has taken initiatives to establish PPP Start-up Centers in the States – a new model institution for end-to-end incubation of potential entrepreneurs to build future business houses generating large scale employments. This incubation program will promote non-IT and rural entrepreneurship.

Unveiling the CII's theme for 2016-17 of 'Building National Competitiveness', Dr Forbes said that to build national competitiveness, CII has laid emphasis on six key areas: human development, corporate integrity and good citizenship, ease of doing business, innovation and technical capability, sustainability and global integration.

Talking about the legislative reforms, Dr Forbes said that there is a need to bring in a political consensus to ensure early passage of Constitution Amendment Bill for the implementation of GST.

He urged the states to amend labour laws following the model set by Rajasthan, Madhya Pradesh, Andhra Pradesh, and Gujarat. He also emphasized the need for other Indian states to emulate Tamil Nadu and Rajasthan in introducing land reforms. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Marten Alkhagen
Swerea IVF AB

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Karan Arora
Karan Arora

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

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search