Industry bodies, Economists and Experts across the country have welcomed the growth figures of Indian GDP. Expressing their views on the Country’s GDP growth, all have lauded the government’s efforts to achieve this growth.
CEO and Secretary General of PHDCCI, Dr. Ranjeet Mehta, said that India’s economy has once again proved to be very strong and resilient in this quarter. He said that this is the fastest-growing economy amid the kind of geopolitical challenges we are facing. Dr. Mehta said that the country is very sure that the economy will continue to do well because the sectors in which it has outperformed are manufacturing, the services sector, agriculture, and construction. All these are very important sectors that contribute significantly to the GDP of India.
FICCI’s senior Vice President Anand Goenka said that GDP numbers for the first quarter put out by the government clearly indicate the strength of the Indian economy and the improving momentum, which is being supported by domestic demand. He added that both the manufacturing and services sector have done pretty well. Mr. Goenka said that India is amongst the fastest growing major economies in the world and with Government pressing the accelerator on reforms in close collaboration with states.
Lauding the numbers of GDP, Economic Affairs Secretary, Anuradha Thakur said that in her view, Q1 numbers reflect the basic resilience of the country’s economy. She added that it reflects strengthening of the momentum in the economy and it is anchored in strong macroeconomic fundamentals.
BJP MP Praveen Khandelwal stated that this clearly shows that under the leadership of Prime Minister Narendra Modi, the country’s economy remains strong despite challenges, and it is rapidly progressing towards development.
While, Economist Aakash Jindal said that it’s very clear and very evident to the world that India has been consistently outperforming all global economies. He highlighted that 7.8 per cent GDP growth is an exemplary GDP growth.
Chief economist Manoranjan Sharma, said that with this kind of a growth, India consolidates its position as one of the fastest growing economies of the world with 17 per cent of incremental global growth coming from India. All the three sectors of the economy have done well. He said that India is on course of becoming 20.7 US dollar trillion economy by 2030 and 34.2 US dollar trillion economy by 2038.
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