Home / Knowledge / News / Textiles / India taking steps for favourable investment setting: CEA

India taking steps for favourable investment setting: CEA

16
Dec '19
Pic: Shutterstock
Pic: Shutterstock
The Indian government has a well-thought-out agenda for reforms to beat current slowdown in the economy which is more cyclical than structural in nature, chief economic advisor Krishnamurthy Subramanian said last week. "Private investment is the key driver of economic growth and consumption is a force multiplier," he told a young leaders summit in New Delhi.

"The steps we are taking, like the corporate tax rate cut, are intended to create a more favourable environment for investments that are required for sustained growth," he said.

"Needless to say that there is a slowdown. But you estimate whether it is cyclical or structural by estimating the potential growth rate of the economy. If the growth potential has changed because of some structural aspects of the economy, then you can say that the slowdown is structural," an Indian business daily report quoted him as saying.

Subramanian said there has been no change in the demographics, demand and the ability of companies to supply things. "The government is now doing a lot of reforms, and reforms enhance the productivity of the economy. We are taking all the steps that are necessary," he said.

Subramanian also spoke of the importance of treating data as a public good. "Data is of the people, by the people, and hence should be for the people. The government should also promote the use of soft infrastructure like data infrastructure,” he said.

"High-quality data is extremely important for machines to learn well and make predictions about the right business decisions," he added.

Fibre2Fashion News Desk (DS)


Must ReadView All

European Commission proposes new EU GSP for 2024-2034 period

Textiles | On 24th Sep 2021

European Commission proposes new EU GSP for 2024-2034 period

The European Commission recently adopted the legislative proposal for ...

Pic: EURATEX

Press Release | On 24th Sep 2021

EURATEX president Paccanelli urges for support to tackle energy crisis

European Apparel and Textile Confederation (EURATEX) has announced...

Pic: Shutterstock

Apparel/Garments | On 24th Sep 2021

UK competition watchdog to crack down on green fashion claims

To help businesses understand how to communicate their green...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Luxury is not just about high prices but ability to create desire

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

India-EU Summit, Representatives

India-EU Summit
Representatives

India-EU FTA will provide EU with better access to a huge & rapidly...

Akram Tariq Khan,

Akram Tariq Khan

E-commerce brand YourLibaas meaning "garment or attire" in Udru, was...

C Maennich,

C Maennich

Trützschler, one of the world's leading textile machinery manufacturers,...

Seema Mishra,

Seema Mishra

Set up in January 2020 by <b>Seema Mishra</b>, the Kasrawad Art Cluster...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Jacques Prigneaux, EDANA

Jacques Prigneaux
EDANA

EDANA has been the leading global association and voice of the nonwovens...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Reynu Taandon, Label Reynu Taandon + Nikhita

Reynu Taandon
Label Reynu Taandon + Nikhita

Renowned womenswear designer <b>Reynu Taandon </b>has been serving the...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

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


September 2021

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


Advanced Search