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Indias GDP growth accelerated to 5.7% year-on-year in the three months to June the fastest growth in 10 quarters and up from 4.6% in the January-March period, reports fe Bureau in New Delhi. While that sounds encouraging and suggests the economy may be bottoming out, subsequent data has been disappointing. The core infrastructure sector, which accounts for 38% of the IIP, grew by just 2.7% in July, a correction over the 7.3% increase seen in June. Nevertheless, the better performance of the steel and cement sectors suggests construction activity may be picking up; the better manufacturing and industry data in the GDP after several quarters of contraction is also encouraging. While there are glimpses of investments reviving after a year of complete stagnation, the growth in non-food credit , which is averaging 14%, remains anaemic indicating companies are not adding fresh capacity. In any case, with capacity utilisation in the economy at 75%, theres adequate supply to take care
of any immediate rise in demand.
Narendra Modi has now become a brand ambassador of India. In 100 days, he has single-handedly created an environment for any businessman to invest in India.
Joint MD, Jyothy Laboratories
Its a century on debut with some masterful foreign policy strokes like Digital India, Smart Cities and the National Digital Literacy Mission. I hope the captain plays a long innings
Vice-chairman & CEO, Zensar Technologies
Modi governments statements are encouraging. We would like to see that all these are followed both in letter and spirit. Many times, the govt fails in implementation
Chairman, Bisleri International
In the first 100 days, Modi has set the tone right for efficiency, business and investments. He promised good governance
and he is already doing that
by streamlining systems
Managing director, Hiranandani Group