Home / Knowledge / News / Textiles / GST, bankruptcy law to ensure ease of doing business: ADB
GST, bankruptcy law to ensure ease of doing business: ADB
04
May '17
Reforms such as the Goods and Services Tax (GST) and the new bankruptcy law in India will ensure ease of doing business in the country, said Yasuyuki Sawada, chief economist at Asian Development Bank (ADB). The organisation expects the Indian economy to grow at the rate of 7.4 per cent in the current fiscal and at 7.6 per cent in the next fiscal.

The growth rate of India for the previous fiscal year was 7.1 per cent. Sawada said during a media briefing that a growth of over 7 per cent is high as compared to the economies of other emerging markets as well as China. The new bankruptcy law adopted by the government has improved the business environment of the country and is a short-term and medium-term factor behind India's gross acceleration.

He added that demonetisation led to a short-term decline in cash transactions, but ADB's data analysis shows that its impact was short-lived. ADB still believes that the Indian economy will witness medium-term growth acceleration.

The overall export performance of the country has also been positive so far, in spite of rupee appreciation, added Sawada.

ADB's 4-day 50th annual meeting has begun in Yokohama, Japan. It is being attended by the Central bank governors and finance ministers of all member nations. (KD)

Fibre2Fashion News Desk – India


Must ReadView All

'Knitting machines can be used for various applications'

Textiles | On 21st Aug 2018

'Knitting machines can be used for various applications'

Flat knitting machines have the potential of being used for a number...

Bangladesh imported 46% of cotton requirement from India

Textiles | On 21st Aug 2018

Bangladesh imported 46% of cotton requirement from India

Bangladesh imported 46 per cent of its requirement of cotton from...

Indian team finds way to cut water use in textile industry

Textiles | On 21st Aug 2018

Indian team finds way to cut water use in textile industry

Researchers at the department of chemistry in Calicut University in...

Interviews View All

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

C Dhandayuthapani

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

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Tony Ward
Tony Ward

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

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

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


August 2018

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

news category


Related Categories:

Advanced Search