Home / Knowledge / News / Textiles / India's growth slowed due to structural reforms: US
India's growth slowed due to structural reforms: US
27
Feb '18
India’s growth has slowed due to structural economic reforms like demonetisation and the rising share of non-performing loans (NPLs) in its banks is worrisome, says the Economic Report of the US President released recently. NPLs have alarmingly increased in recent years, with the current NPL slippage ratio in India almost double that in 2014-15, it says.

The introduction goods and services tax has created ‘short-term uncertainty’ and India’s public sector banks, led by the State Bank of India, account for the lion’s share of NPLs in the banking sector, which poses further risks, according to a news agency that cited the report.

US bilateral trade deficit with four major countries, including India, narrowed in the first three quarters of 2017 compared to the previous year, the report says.

According to statistics provided to the International Monetary Fund (IMF) by India, NPLs as a share of all loans — the NPL slippage ratio —stood at 9.7 per cent in the third quarter of 2017, compared with 1.7 per cent in China.

Indian banking sector’s stress, however, may be ameliorated in the future, as the government recently announced a $32.4-billion package to recapitalise publicly sector banks, the report said.

Observing India to be the most frequent user of anti-dumping measures, the White House report said delays in the approval of agricultural products derived from biotechnology in China, the European Union, India and other countries result in increased market uncertainty among technology providers, farmers, and traders of US corn, soy, cotton, and alfalfa, leading to reduced exports of these products.

The US Government also blamed India for not implementing the WTO ruling on poultry. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: ITMA 2015

Textiles | On 21st Jun 2018

Italy to host textile machinery fair ITMA in 2023

ITMA, the trendsetting textile and garment technology platform, will...

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

NRF urges US Congress to step in, stop trade war

Apparel/Garments | On 21st Jun 2018

NRF urges US Congress to step in, stop trade war

The National Retail Federation (NRF) recently urged the US Congress...

Interviews View All

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Harsh Shah

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

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Suresh Patel
Sidwin Fabric

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

Sanjukta Dutta
Sanjukta's Studio

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search