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

EU mulls imposing tariffs on Cambodian garments

Apparel/Garments | On 12th Nov 2018

EU mulls imposing tariffs on Cambodian garments

The European Union is mulling over imposing tariffs on Cambodian...

Courtesy: Lenzing

Textiles | On 12th Nov 2018

Lenzing reports solid result in FY18 first half

Lenzing's strategic orientation with a focus on specialty fibres has...

Courtesy: Invista

Textiles | On 12th Nov 2018

Invista’s Texas site sets adiponitrile production record

Invista’s site in Orange, Texas, has set a 12-month production record ...

Interviews View All

Kamlesh Vaghela, RK Textiles

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Shiladitya K Joshi, Truetzschler India Private Limited

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Top executives, Textile industry

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Kamal Kulshreshth,

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Ravindra Jain, Ashish Baid,

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Umang Banthia,

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions & Vertriebs Gmbh, founded in 1978 and headquartered ...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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


November 2018

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

news category


Related Categories:

Advanced Search