Home / Knowledge / News / Textiles / Indian GDP grew 7.1% in H1 of current fiscal: Sitharaman
Indian GDP grew 7.1% in H1 of current fiscal: Sitharaman
Nov '16
The Indian economy is growing consistently as it recorded a growth of 7.1 per cent in the first half of the current fiscal, despite a moderate growth in the world economy, said Union minister of commerce and industry Nirmala Sitharaman. She added that the Government of India has been taking the necessary steps to increase industrial production and growth.

In spite of a subdued growth in the world economy, India managed to maintain a GDP growth rate of 7.2 per cent in 2014-15, 7.6 per cent in 2015-16 and 7.1 per cent in the months of April to September in the financial year ending March 31, 2017, said Sitharaman in a written reply during Question Hour in the Lok Sabha.

It is the state governments’ responsibility to ensure industrial development in backward areas, while the Central government helps by providing various schemes, said media reports quoting Sitharaman. She added that various steps including liberalisation of foreign direct investment (FDI) policy, ‘startup India’ and ‘Make in India’ initiatives and industrial corridor development have been taken to boost industrial production.

The Index of Industrial Production (IIP) witnessed a decline of 0.1 per cent between April and September in the fiscal 2016-17, compared to the first half of the previous fiscal. She continued that the annual growth of IIP increased from 0.1 per cent in 2013-14 to 2.8 per cent in the year 2014-15. It saw a slight decline to 2.4 per cent in the previous fiscal. (KD)

Fibre2Fashion News Desk – India

Must ReadView All

Digital textile printing sector to grow by 20% by 2020

Textiles | On 18th Jun 2018

Digital textile printing sector to grow by 20% by 2020

The digital textile printing sector is expected to have a compound...

Courtesy: Hela Clothing

Apparel/Garments | On 18th Jun 2018

Hela's latest label revolves around underwear, sleepwear

The latest collection of Sri Lanka’s Hela Clothing is revolves mostly ...

Kenya levies higher duties on mitumba import

Apparel/Garments | On 18th Jun 2018

Kenya levies higher duties on mitumba import

Kenya’s treasury secretary Henry Rotich recently raised the duty on...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Sachin Sharma
Gem Enviro Management Pvt Ltd

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

Nitesh Mittal

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

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Yash P. Kotak
Bombay Hemp Company

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

Anisha Chaudhari
Threads & Shirts

Threads & 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


Letter To Editor

(Max. 8000 char.)

Search Companies


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