Home / Knowledge / News / Textiles / Indian GDP grew 7.1% in H1 of current fiscal: Sitharaman
Indian GDP grew 7.1% in H1 of current fiscal: Sitharaman
Nov '16
The Indian economy is growing consistently as it recorded a growth of 7.1 per cent in the first half of the current fiscal, despite a moderate growth in the world economy, said Union minister of commerce and industry Nirmala Sitharaman. She added that the Government of India has been taking the necessary steps to increase industrial production and growth.

In spite of a subdued growth in the world economy, India managed to maintain a GDP growth rate of 7.2 per cent in 2014-15, 7.6 per cent in 2015-16 and 7.1 per cent in the months of April to September in the financial year ending March 31, 2017, said Sitharaman in a written reply during Question Hour in the Lok Sabha.

It is the state governments’ responsibility to ensure industrial development in backward areas, while the Central government helps by providing various schemes, said media reports quoting Sitharaman. She added that various steps including liberalisation of foreign direct investment (FDI) policy, ‘startup India’ and ‘Make in India’ initiatives and industrial corridor development have been taken to boost industrial production.

The Index of Industrial Production (IIP) witnessed a decline of 0.1 per cent between April and September in the fiscal 2016-17, compared to the first half of the previous fiscal. She continued that the annual growth of IIP increased from 0.1 per cent in 2013-14 to 2.8 per cent in the year 2014-15. It saw a slight decline to 2.4 per cent in the previous fiscal. (KD)

Fibre2Fashion News Desk – India

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

The budget will give major impetus to textile and apparel consumption

Marazban F Velati, Sutlej Textiles & Industries limited

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Anvita Mehra, Confidential Couture

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Ravi Kant Prakash,

Ravi Kant Prakash

A crucial role in the process of fabric manufacturing is played by the...

Yogesh Kanani,

Yogesh Kanani

Incorporated in 1999, Purani Textiless Private Limited is a leading...

Alessandro Marengo,

Alessandro Marengo

Founded in 1974, Italian firm Zaitex SpA is one of the leading suppliers...

Matthew Kolmes, Supreme Corporation

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Johan Berlin, InvestKonsult Sweden AB

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

November 2019

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

Follow us on instagram


Follow Fibre2Fashion On

Advanced Search