Home / Knowledge / News / Textiles / Moody's projects India's GDP growth at 7.5% in 2015
Moody's projects India's GDP growth at 7.5% in 2015
03
Nov '15
Moody's Investors Service has projected stable growth rate for India, saying the economy would grow at 7.5 per cent in the current fiscal and improve marginally in the following year.

"We expect that India's real GDP will grow at 7.5 per cent in the financial year ending March 31, 2016 (FY16) and 7.6 per cent in FY17," it said in a report.

"These growth rates would be slightly faster than the 7.4 per cent recorded in FY15 and substantially better than from FY12 to FY14," it said in a report, adding "India's economic growth will remain stable".

Moody's expects the Reserve Bank to maintain its accommodative stance over the outlook horizon, supporting the operating environment for banks. "An accommodative monetary policy should support the growth environment," it said.

India's average annual expansion of 7.7 per cent over the past decade is one of the fastest growth rates globally, as its favorable demographics and the opportunities afforded by a large and diverse national market with high levels of savings have overcome the effects of weak physical infrastructure and sometimes disjointed policies.

However, during this long growth period, the country experienced a significant slowdown in FY12-13 driven in part by policy bottlenecks impacting project investments, the report said.

"Over the past two years (FY14-FY15), some of these problems were addressed. There has been a focus on improving the ease of doing business, particularly with respect to approvals required from the government," it said citing increase in limits on FDI in key sectors like defence and insurance.

Further, there has also been a pick-up in public-sector investments, particularly in areas such as railways and roads, to compensate for the weak levels of private-sector capital investment, it added.

The report also noted that India has weathered the recent volatility in emerging markets much better than peers, as seen in the relatively modest deterioration in the currency, "indicating that investor sentiment remains supportive" of the country's economic outlook. (SH)

Fibre2Fashion News Desk - India


Must ReadView All

Textiles | On 24th Jul 2017

Govt extends deadline for GST composition scheme to Aug 16

The Government on India has extended the deadline for small...

L-R: Dhanapal, JMD, Best Corporation; Prabhu Damodaran, Convenor, ITF; Narayanasamy, MD, Micro Cotspin; Senthilnathan, MD Rasitex India; and Sabapathy, MD, Prasanna Spinning Mills

Textiles | On 24th Jul 2017

TN mills seek partnership with cotton growing states

Spinning mills in Tamil Nadu are seeking stronger partnership with...

Textiles | On 24th Jul 2017

Irani terms GST as a ‘great step towards transparency’

Union textiles minister Smriti Irani has termed the Goods and...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

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

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Mohammad Hassan
Biax Fiberfilm

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

Kerem Durdag
Biovation II LLC

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

Giorgio Mantovani
Corman S.p.A

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

Yash P. Kotak
Bombay Hemp Company

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

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

July 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

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


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



X