Home / Knowledge / News / Textiles / Increased consumption to accelerate India's growth: ADB
Increased consumption to accelerate India's growth: ADB
10
Apr '17
Increased consumption, as more new bank notes are put in circulation, and as planned salary and pension hike for state employees are implemented, will accelerate the growth of Indian economy. The country’s GDP is likely to expand 7.4 per cent in fiscal 2017 and 7.6 per cent in fiscal 2018, says the Asian Development Bank (ADB) in its latest report.

“Inflation, meanwhile, is expected to accelerate to 5.2 per cent in FY2017 and 5.4 per cent in FY2018 as the global economy recovers and commodity prices rebound,” the Manila based organisation says in its ‘Asia Development Outlook (ADO) 2017 report.

The public sector will remain the main driver of investment as banks continue to wind down balance sheets constrained by high levels of stressed assets. Exports are forecast to grow by 6 per cent in the coming year, according to the report.

The assessment notes risks from higher oil prices as India imports nearly 80 per cent of its fossil fuel needs. A rapid increase in the price of oil could undermine the country’s fiscal position, stoke inflation, and swell the current account deficit. The report estimates that a $1 increase in oil prices raises the import bill by nearly $2 billion. In FY2016, rising oil prices resulted in a 37.6 per cent increase in India’s import bill. To mitigate India’s vulnerability to oil price swings, the government has proposed reducing dependence on imported oil by 10 per cent over the next 5 years through more efficient domestic production and increased private investment into the sector. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Apparel/Garments | On 15th Dec 2017

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Strategic location, modern factory facilities and proximity to the...

Courtesy: 2XU

Apparel/Garments | On 15th Dec 2017

L Catterton Asia announces JV of GXG and 2XU

L Catterton Asia, the Asian unit of the largest and most global...

15 trade associations urge nations to safeguard WTO system

Apparel/Garments | On 15th Dec 2017

15 trade associations urge nations to safeguard WTO system

Fifteen trade and industry associations from across the world have...

Interviews View All

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Eamonn Tighe
Nature Works LLC

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

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

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

December 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
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

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
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

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
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

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
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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