Home / Knowledge / News / Textiles / Indian economy may grow by 7.2% in 2018, 7.4% in 2019: UN
Indian economy may grow by 7.2% in 2018, 7.4% in 2019: UN
14
Dec '17
Indian economy may grow by 7.2% in 2018, 7.4% in 2019: UN
The growth rate of India's economy is expected to rise from this year's 6.7 per cent to 7.2 per cent next year and 7.4 per cent in 2019 making it again the fastest-growing major economy, the United Nations said in its World Economic Situation and Prospects 2018 report. The projection for India for 2018 released by the UN in May was, however, 7.9 per cent.

China's witnessed a 6.8 per cent economic growth this year, but its growth projections are 6.5 per cent next year and 6.3 per cent in 2019, a news agency reported citing the UN report, which painted an overall rosier outlook for the world economy.

"Despite the slowdown observed in early 2017 and the lingering effects from the demonetization policy, the outlook for India remains largely positive, underpinned by robust private consumption and public investment as well as ongoing structural reforms," according to the report.

India's fiscal deficit has visibly declined and in 2018, it is expected to reduce further to 3.2 per cent of gross domestic product (GDP) in 2018, said the report, which warned that ‘the anaemic performance’ of private investment in the country remains a key macroeconomic concern.

It also said that there was ‘some degree of uncertainty’ over the monetary policy stance in India. (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

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

John Kelley

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

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Kerem Durdag
Biovation II LLC

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

Suresh Patel
Sidwin Fabric

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

Giorgio Mantovani
Corman S.p.A

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

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

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