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Robust GDP growth to continue: CII
Why is it in the news ?
- According to the Confederation of Indian Industry (CII), India is expected to witness strong economic growth in 2019.
- The country has emerged as the fastest growing major world economy this year despite growing global vulnerabilities.
More in the news
Other findings of CII:
- The positive outlook is buttressed by strong drivers emanating from services sector and better demand conditions arising out of poll spend.
- Despite the vulnerabilities arising out of rising oil prices, trade wars and US monetary tightening, India outshined as the world’s fastest growing major economy.
- However the chamber outlined that credit availability has been a challenge, particularly for the micro, small and medium enterprises, as credit flow to industry grew by a mere 2.3% in first half of the current financial year.
- On agriculture reforms, CII suggested that it is important to persuade states to implement the Agriculture Produce and Livestock Marketing Model Act to strengthen agriculture produce marketing.
CII
- The Confederation of Indian Industry (CII) is a non-government, not-for-profit, industry-led and industry-managed organization, playing a proactive role in India's development process.
- It was founded in 1895 and the premier business association has over 8,500 members, from the private as well as public sectors, including SMEs and MNCs.
- CII charts change by working closely with Government on policy issues, interfacing with thought leaders, and enhancing efficiency, competitiveness and business opportunities for industry.
Source
The Hindu.