Indian economy is approaching towards its potential growth trajectory: PHD Chamber

The growth at 8.2% in Q1 FY2019 after posting a growth of 7.7% in Q4 FY2018 is highly encouraging and the economy is approaching towards its potential growth trajectory, said Mr. Anil Khaitan. While appreciating the continuous momentum in economic growth, quarter after quarter, Mr. Anil Khaitan, President, PHD Chamber of Commerce and Industry said that the effect of dynamic reforms undertaken by the government is becoming visible, in a press statement issued here today. Reforms in Ease of Doing Business during the last four years have bolstered the manufacturing sector growth at 13.5% in Q1 FY2019, said Mr. Khaitan.

The employment oriented construction sector has posted an inspiring growth of 8.7% in Q1 FY2019 which is indicating improved Ease of Doing Business in the construction sector, said Mr. Anil Khaitan. The growth of agriculture, forestry and fishing at 5.3% in Q1 FY2019 is reflecting the focus of the government on agriculture and rural economy during the last few years which would go a long way to strengthen the economy and put it on USD 5 trillion economy by 2025, added Mr. Anil Khaitan. Growth of electricity, gas, water supply and other utility services at 7.3% in Q1 FY2019 is also indicative of strengthening reforms, said Mr. Khaitan.

 

Going ahead, improving the export infrastructure and logistics would go a long way to boost exports growth and to address the rising trade deficit and stability in the rupee scenario, he said. We look forward to continuous focus of the government on economic reforms, further improvement in ease of doing business and effective implementation of dynamic reforms announced during the last few years, said Mr. Anil Khaitan.

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