Industry expects close to 8% GDP growth over next two years: CII
It said Rs 50,000 crore worth of investments have been recently announced.
New Delhi: Industry is expecting the GDP to grow by close to 8 per cent over the next couple of years, as strong reforms process and fiscal prudence have laid a solid foundation for growth, CII said in a report. “The economy is in a sweet spot right now as the adjustment process regarding major reforms of the past few years is largely stabilized and industry is ready for a fresh phase of investment while capacity utilization builds up,” it said.
It said Rs 50,000 crore worth of investments have been recently announced.
A CEOs (chief executive officers) opinion poll showed that 82 per cent of them expect GDP (gross domestic product) growth to be higher than 7 per cent for the year 2018-19, with 10 per cent of them expecting growth to be above 7.5 per cent.
Credit: indianexpress.com