Home / Knowledge / News / Textiles / India's GDP growth likely to be 7.1% in 2017-18: Nomura
India's GDP growth likely to be 7.1% in 2017-18: Nomura
15
Sep '17
Following a likely rise in industrial production in near future, India’s GDP growth is projected to be around 7.1 per cent this fiscal, says a recent report by Japanese financial services major Nomura. The rise is anticipated as firms resort to ‘restocking’ after implementation of goods and services tax (GST), especially ahead of the festive season, it says.

Nomura expects a GDP growth of 7.1 per cent year-on-year and gross value added (GVA) growth of 6.7 per cent in fiscal 2017-18.

Businesses went on a destocking spree before GST, primarily because of a steep fall in demand from consumers, who delayed buying. Economic recovery will likely continue to be led by consumption, according to a news agency that quoted the Nomura report.

The report foresees a positive impact of the ongoing remonetisation initiative on the cash-intensive services sectors, which will help raise growth numbers.

India’s index of industrial production (IIP) during July slipped to 1.2 per cent because of a poor show by the manufacturing sector, while retail inflation rose to a 5-month high of 3.36 per cent in August due to a rise vegetable and fruit prices, according to Central Statistics Office (CSO) data.

The data suggest that the industrial growth recovery is still uneven with weak investment demand, but also currently depressed due to GST effects, the Nomura report said commenting on the CSO statistics. While demand-side price pressures remain contained, supply side and statistical factors, such as GST and food prices are driving inflation higher, it added. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

EU renews GSP+ scheme for Pakistan 2 years

Apparel/Garments | On 24th Feb 2018

EU renews GSP+ scheme for Pakistan 2 years

Pakistani exporters can enjoy preferential duties on exports to the...

Surat wary of e-way bills

Textiles | On 24th Feb 2018

Surat wary of e-way bills

There is no respite for Surat’s textile manufacturers and retailers....

Retailers choose sides in Alibaba-Tencent battle in China

Apparel/Garments | On 24th Feb 2018

Retailers choose sides in Alibaba-Tencent battle in China

Two big Chinese firms— Alibaba Group Holding Ltd and Tencent Holdings ...

Interviews View All

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

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...

Divvya and Nidhhi Gambhir
Walnut

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

February 2018

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
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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