GDP growth momentum to continue in FY’25 as well: ASSOCHAM
GDP growth of 8.2 per cent for 2023-24 and 7.8 per cent in the last quarter of the fiscal has beaten even optimistic expectations, helped by a stellar performance of manufacturing, which is expected to sustain momentum in the current financial year as well, ASSOCHAM Secretary General Mr Deepak Sood said.
In his initial reading of the GDP data for the FY’24 and the last quarter of the fiscal, Mr Sood said, ” Manufacturing has really bounced back, growing by 9.9 per cent . This is great news for India which is positioned amongst the fastest growing economies of the world. Going forward, we expect agriculture to join the growth momentum as well in the current fiscal , with expectations of an above average Monsoon which has already hit the Kerala coast. We are certainly heading towards a virtuous cycle of high growth and lower inflation , to be helped by good rains”.
The ASSOCHAM Secretary General said optimism for sustaining a growth momentum also stems from a good beginning by the core sector industries like steel, electricity etc which have shown a combined expansion of 6.2 per cent in April, 2024 over the previous fiscal. ” We remain quite bullish about the Indian economy which is witnessing improved corporate earnings and new investments across different sectors like telecom, automobile, construction and strategic technologies”.
