Mr Sajjan Jindal president of ASSOCHAM said that IIP touching 6.8% in the month of July is indicative of the fact that recovery in Indian economy is gradually picking up especially on account of good industrial activities in mining and manufacturing.
Mr Jindal said that “In future, as the day’s advance, the impact of stimuli package of government would also add on to the recovery factor and India could move on to close to 6.5% of GDP in the current fiscal.”
He added that “Delayed monsoon has become a little more active in central and northern part of the country which will ensure a little larger agriculture production and create demand for manufacturing sector. However, the capital goods industry will have to show a little more vigilance to absorb shocks of global meltdown as this industry will take a little longer for getting activated.”
Sourse From: http://www.steelguru.com/news/index/2009/09/14/MTExNTc5/Rays_of_recovery_-_IIP_hitting_at_6.8pct_in_July_-_ASSOCHAM.html
Sunday, September 13, 2009
Rays of recovery - IIP hitting at 6.8pct in July - ASSOCHAM
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