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
29
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


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 28th Nov 2020

3 Bangla RMG firms present energy efficiency action plans

Small energy efficiency working groups (SEEWGs) of three top tier...

Pic: Shutterstock

Textiles | On 28th Nov 2020

Pak PM asks ministries to help textile sector meet demand

Pakistani Prime Minister Imran Khan recently directed the commerce...

Pic: Shutterstock

Apparel/Garments | On 28th Nov 2020

Rwanda's garment-textile exports grow by 83% in 2 years

Rwanda's textile and garment sector grew 83 per cent in value between ...

Interviews View All

Footwear industry, Head honchos

Footwear industry
Head honchos

There is rising demand for fancy, trendy and yet comfortable footwear

Ajay Ghariwala, Luthra Group

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Textile Industry, Head honchos

Textile Industry
Head honchos

Increased need for online fitting solutions as retailers shift to...

Nuria Estape,

Nuria Estape

Archroma is a global colour and specialty chemicals company headquartered...

Mukesh Bansal,

Mukesh Bansal

Vardhman is one of the largest integrated textile manufacturers of India...

Iacopo Pardini,

Iacopo Pardini

Founded in 1953, Italian engineering company Arioli Spa started...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Kai Poehler, Voith Paper GmbH & Co. KG

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

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 2020

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


Advanced Search