Home / Knowledge / News / Textiles / Indian economic growth to rebound to 7% next fiscal: IMF

Indian economic growth to rebound to 7% next fiscal: IMF

29
Oct '19
Pic: Shutterstock
Pic: Shutterstock
The International Monetary Fund (IMF) foresees India’s economic growth rebounding to around 7 per cent next fiscal, supported by measures like monetary policy stimulus and corporate income tax cuts, according to Jonathan Ostry, deputy director of IMF’s Asia Pacific department, who said the slowdown in India in recent quarters took the IMF by surprise.

The recent tax cuts, the government’s progress in addressing lingering weaknesses in the financial sector and measures to support growth sectors are seen as factors underpinning growth in the near term, Ostry said.

“There wasn’t a single cause for the slowdown. There were many different causes at work including corporate and regulatory environmental uncertainties, the stresses in the non-bank financial sector, (and) stresses in the rural sector, among others,” a news agency report from Singapore quoted Ostry as saying.

On the Regional Comprehensive Economic Partnership (RECP) being negotiated, he underlined the importance of having services included in the free-trade partnership agreement.

There is a need to take steps to invigorate the deliberation process and structural reforms more generally because India has a potential enormous demographic dividend over the next couple of decades through which about 150 million people will be entering the workforce, he pointed out.

Fibre2Fashion News Desk (DS)


Interviews View All

Dharmendra Shah, Ozone PB Spintex Limited

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Evelyne Cholet, UCMTF

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Deepak Jain, Baggout

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Ravindra Jain, Ashish Baid,

Ravindra Jain, Ashish Baid

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

Maya Simova,

Maya Simova

Inter Expo and Congress Center (IEC) is a prominent exhibition centre in...

Cong Zheng,

Cong Zheng

The China Textile Machinery Association (CTMA) is a social-economic...

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marten Alkhagen, Swerea IVF AB

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search