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IIP and inflation numbers indicate India should be in the 8% GDP growth zone soon: FICCI President
Mar 13, 2018
NEW DELHI, 13 March 2108: The latest IIP data (7.5% growth in January) gives a clear indication that the economy is bouncing back strongly. It corroborates the growth that has been witnessed since August last year in the core sectors of the economy such as cement, steel and automobiles etc., said Mr. Rashesh Shah, President of FICCI.
"The fall in inflation along with the uptick in IIP numbers is encouraging, a development that industry has been looking forward to for some time now. If this trend continues then we can reasonably expect that in the next few quarters the economy would be back to the 8% growth phase, from the 7-7.5% growth witnessed in recent times," Mr. Shah said.