Home / Knowledge / News / Textiles / India growth story intact, GST to boost growth: FICCI
India growth story intact, GST to boost growth: FICCI
24
Jul '18
India growth story intact, GST to boost growth: FICCI
The Indian growth story is intact with the gross domestic product (GDP) expected to grow around 7.5 per cent in this fiscal and improve further. The slowing down of the industrial output growth in May to 3.2 per cent and the inching up of the retail inflation in June to 5 per cent are short-term challenges, according to a top Indian industry federation.

The challenges are being pro-actively addressed by the government and the Reserve Bank of India, and these should not be seen in any way as significantly hurting the signs of revival in the economy, said Federation of Indian Chambers of Commerce and Industry (FICCI) president Rashesh Shah.

"While the industrial output growth is expected to rebound in the next few months; the rise in inflation is being watched by the RBI closely, and the apex bank and the government will certainly take necessary measures to keep it at the manageable levels," a FICCI press release quoted Shah as saying.

The goods and services tax (GST) collection trends clearly indicate a positive sentiment in the economy and the tax structure will also bring down inflation, he added. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 14th Jun 2021

Sri Lanka's EDB concerned over EU resolution to withdraw GSP+

Sri Lanka's Export Development Board is concerned over the resolution ...

Pic: Shutterstock

Textiles | On 14th Jun 2021

Pakistan govt proposes tax relief in budget to boost industrial growth

Pakistan's latest budget aims to reduce the input cost of many...

Pic: Shutterstock

Apparel/Garments | On 14th Jun 2021

Prime Content| Vietnam’s apparel exports expected to rise in 2021: TexPro

Apparel exports of Vietnam are expected to increase from $14.96...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Opportunity now to reimagine processes & systems in a digital environment

Textile Industry, Head honchos

Textile Industry
Head honchos

The pandemic has reinstated need for organised retail spaces in Tier II...

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Shivaani Jain,

Shivaani Jain

Established in 2015, Once Upon A Trunk is a one-stop-shop with almost...

Ujjval Saraf,

Ujjval Saraf

Founded by Jimmy Lai, Giordano International Ltd, a Hong Kong based...

Amanda Cioletti,

Amanda Cioletti

The entertainment/character segment lead as the largest sector for the...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Daniel Roxbury, University of Rhode Island

Daniel Roxbury
University of Rhode Island

Assistant professor Daniel Roxbury and former URI graduate student...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha & Jigar blends India's unique handcrafts...

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


June 2021

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


Advanced Search