India likely to remain fastest growing major economy in 2024- Assocham
时间:2024-06-28 22:51:42 阅读(143)
India is likely to remain the fastest-growing major economy in the world in 2024 on the back of strong consumer demand leading to a pick up in investment across sectors such as construction, hospitality and infrastructure including railways and aviation, Assocham said on Thursday.
India retained the tag of the world’s fastest-growing major economy, with its GDP expanding by a faster-than-expected rate of 7.6 per cent in the July-September quarter on booster shots from government spending and manufacturing.
The growth compares to 6.2 per cent in the same quarter last year and 7.8 per cent expansion in the preceding quarter, official data released on Thursday showed.
India’s GDP growth beat China’s 4.9 per cent rise in July-September, while the Western economies are getting crushed under high-interest rates and energy prices.
“India’s macro picture looks quite convincing with the overall economy following a trend growth of seven per cent with critical building blocks combining to give it brighter prospects,’ Assocham Secretary General Deepak Sood said.
According to the industry body, India Inc led by financials, construction, hotels, aviation, automobile and other manufacturing areas like electronics are on a strong pitch to further improve performance in the coming year.
The trajectory is being helped by the low crude oil prices, keeping inflation in check with a big positive on raw material cost.
“Sectors like construction have several related industries which too have gained momentum. These include steel, cement, mining, electricity generation and consumer durables,’ Assocham stated.
The macro economic indicators including government balance sheet reflected in strong tax collections, record foreign exchange reserves, stability in the rupee against major currencies and signs of revival in merchandise exports are expected to further improve, it estimated.
上一篇:Rupee falls, but holds important technical levels; premiums rise
下一篇:ZED scheme- Financial support extended to MSMEs crosses Rs 100 crore
猜你喜欢
- Rupee falls to fresh all-time low amid strong dollar, persistent FII selling, risk aversion in global markets
- Top picks Diwali from Motilal Oswal- Hear out the expert recommendations
- Rupee likely to depreciate on strong dollar, risk aversion in markets; UDINR pair to trade in this range
- Sebi penalises 2 individuals for insider trading in Deepak Fertilizers shares
- Top global cues to know before market opening on August 29
- This low-cost pill can help to quit smoking; Read on to know all about it
- SBI, ICICI, BoB hit 52-week highs
- Sebi clarifies on ‘schemes of arrangement’ for entities with listed debt securities
- This Rakesh Jhunjhunwala stock plunges 25% so far in 2022; analysts bullish, see up to 128% potential rally