Home / Knowledge / News / Textiles / PHD: India to clock 8% GDP growth in FY17
PHD: India to clock 8% GDP growth in FY17
25
Apr '16
The PHD Chamber of Commerce has said that India's economy could surpass the Reserve Bank of India's growth projection of 7.6 per cent for 2016-17.

It said India's GDP could touch nearly 8 per cent on the back of robust private consumption, which has benefited from lower energy prices and higher real incomes, PTI has reported.

“Going ahead, growth in India is projected to notch up to 8 per cent in 2016-17. Growth will continue to be driven by private consumption, which has benefited from lower energy prices and higher real incomes.

“Further, with the revival of sentiment and pick-up in industrial activity, a recovery of private investment is expected to strengthen growth in the coming times,” it said.

According to its estimate, India's share in world GDP has doubled from 1.43 per cent in 2000 to 2.86 per cent in 2015.
“India's GDP stood at $477 billion in 2000 and increased to $2,091 billion in the year 2015, showing more than four-fold increase over a period of 15 years,” PHD Chamber President Mahesh Gupta said.

The BRICS nations account for about 42 per cent of the world's population, a quarter of the world's land area and a combined GDP of above $16 trillion.

“The BRICS economies (Brazil, Russia, India, China and South Africa) also contributed a significant share in the world GDP which increased from 8.27 per cent in 2000 to 22.53 per cent in 2015,” Gupta said. (SH)

Fibre2Fashion News Desk - India

Must ReadView All

Courtesy: H&M

Apparel/Garments | On 30th Mar 2017

H&M group's sales increase 7% in 3 months to Feb '17

The H&M group's sales including VAT amounted to SEK 54,369 million...

Textiles | On 30th Mar 2017

Vietnam’s textile & garment exports earn $4bn in Jan-Feb

Vietnam earned $4 billion from textile and garment exports in the...

Textiles | On 30th Mar 2017

India Inc should work for July 1 GST roll out: Fin sec

The Goods and Services Tax (GST) will take India into a very exciting ...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

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

Sanjay Yagnik
Maa Tex Speciality

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

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Giorgio Mantovani
Corman S.p.A

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Bani Batra

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

Prathyusha Garimella
Prathyusha Garimella

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

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search