Home / Knowledge / News / Textiles / 'Growth rate should now show improvement in current fiscal' - FICCI

'Growth rate should now show improvement in current fiscal' - FICCI

29
May '09
The revised estimates for the fiscal year 2008-09 have put the GDP growth at 6.7%. This shows resilience of the Indian economy against the background of global recession during the later part of the last year.

“With the reversal of contractionary monetary policy and fiscal stimulus measures, the growth rate should now show improvement in the current fiscal (2009-10)”, felt Mr. Harsh Pati Singhania, President, FICCI.

A major reason for the slippage in growth has been the sharp slide in the agricultural as well as the manufacturing sectors. Growth rate of agricultural sector dipped to 1.6 percent compared to 4.9 percent in the previous fiscal year.

Likewise, manufacturing sector growth declined sharply to 2.4 percent this year from 8.2 percent growth in the previous fiscal year. While the policy stimulus should take care and give a boost to manufacturing sector, the monsoon pattern this year will very critically determine the agricultural economy.

The need of the hour is to provide encouragement to the industrial sector to rekindle the growth triggers.

Federation of Indian Chambers of Commerce and Industry


Must ReadView All

Rajive Ranjan (left), Managing Director, Techno Design GmbH and Technocian Fashions, with Oliver Hein, COO, s.Oliver Group. Pic: PDS Multinational Fashions Limited

Apparel/Garments | On 2nd Dec 2021

PDSMFL (BSE:538730) to source for s.Oliver from India, Sri Lanka

India-based PDS Multinational Fashions Limited (listed on Bombay...

US President Joe Biden. Pic Palinchak | Dreamstime.com

Retail | On 3rd Dec 2021

American families have more money in their pockets: US President

Even after accounting for rising prices, the typical American family...

Pic: heimtextil.messefrankfurt.com/

Textiles | On 3rd Dec 2021

Messe Frankfurt cancels international home textiles fair Heimtextil

The Messe Frankfurt Group has announced cancellation of Heimtextil,...

Interviews View All

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Sustainable and eco-friendly fibres remain in the minority

Textile Industry, Head honchos

Textile Industry
Head honchos

Quality & affordability to affect market acceptability of new fibres

India-EU Summit, Representatives

India-EU Summit
Representatives

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

Ilker Hacioglu,

Ilker Hacioglu

Founded by three partners of French origin in 1988, LC Waikiki started its ...

Shyam Gupta,

Shyam Gupta

Established by <b>Shyam Gupta</b> in 1978, Gargee Designer's (GD) offers...

Sanjay Jhunjhunwalla,

Sanjay Jhunjhunwalla

In the financial hub of eastern India, Kolkata, a humble production...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Ingo Soller, TWE Group

Ingo Soller
TWE Group

The TWE Group is one of the leading global players in the nonwovens...

Samant Chauhan, Label Samant Chauhan

Samant Chauhan
Label Samant Chauhan

Delhi based fashion designer, <b>Samant Chauhan</b> who mostly works on...

Rocky Star, Label - Rocky Star

Rocky Star
Label - Rocky Star

<b>Rocky Star,</b> an Indian designer known for his inspiration from the...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha &amp; Jigar blends India's unique handcrafts...

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


December 2021

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


Advanced Search