Home / Knowledge / News / Textiles / CII chief predicts India to grow at 8% in 2016-17
CII chief predicts India to grow at 8% in 2016-17
16
May '16
Confederation of Indian Industry (CII) President Dr Naushad Forbes believes that India could notch up a growth rate of around 8 per cent which is higher than the projections by the World Bank and the IMF.

“India is expected to remain the fastest growing large economy of the world. It is likely to register a GDP growth of around 8 per cent in 2016-17, thanks to the expected normal monsoons, positive global investor sentiments, high FDI inflows, and low interest rates,” Dr Forbes said at a press conference in New Delhi recently.

He said that the agriculture sector is expected to grow at 3 per cent, while the industry and services are expected to grow at the rate of 8.2 per cent and 9.8 per cent respectively.

Talking about CII's new initiatives for 2016-17, Dr Forbes said CII has taken initiatives to establish PPP Start-up Centers in the States – a new model institution for end-to-end incubation of potential entrepreneurs to build future business houses generating large scale employments. This incubation program will promote non-IT and rural entrepreneurship.

Unveiling the CII's theme for 2016-17 of 'Building National Competitiveness', Dr Forbes said that to build national competitiveness, CII has laid emphasis on six key areas: human development, corporate integrity and good citizenship, ease of doing business, innovation and technical capability, sustainability and global integration.

Talking about the legislative reforms, Dr Forbes said that there is a need to bring in a political consensus to ensure early passage of Constitution Amendment Bill for the implementation of GST.

He urged the states to amend labour laws following the model set by Rajasthan, Madhya Pradesh, Andhra Pradesh, and Gujarat. He also emphasized the need for other Indian states to emulate Tamil Nadu and Rajasthan in introducing land reforms. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 28th Feb 2020

Cambodian PM urges PRC to export raw materials by air, sea

Prime Minister Hun Sen recently urged Chinese ambassador to Cambodia...

Pic: Shutterstock

Textiles | On 28th Feb 2020

Pak govt urged to help clear consignments from China

The Sindh Industrial Trading Estate (SITE) Association of Industry...

Pic: Shutterstock

Textiles | On 28th Feb 2020

Coronavirus an opportunity for Indian textile industry?

While scientists across the world are busy developing vaccine and...

Interviews View All

Top executives, Fabric manufacturers

Top executives
Fabric manufacturers

Domestic manufacturers would get an edge over imported products

Vidhyaa Shankar. S, A Ganapathi Chettiar

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Textile industry, Head honchos

Textile industry
Head honchos

GenNext is slowly but surely adapting to global trends and practices

Mirella Sardini,

Mirella Sardini

A leading manufacturer of automated machinery and equipment for the...

Christiane Thies,

Christiane Thies

Founded in 1892, Thies has concentrated on the fabrication of high-quality ...

Liz Manning,

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Sachin Pendharkar, Dieffenbacher India Pvt Ltd

Sachin Pendharkar
Dieffenbacher India Pvt Ltd

Germany-based Dieffenbacher Group is a producer of high-quality composites ...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

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

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

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

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Jay Ramrakhiani, Occasions Elegance Wear

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


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

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


Advanced Search