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India emerges fastest growing major economy in world as per CSO and IMF: Nilesh Shah

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Kolkata | Tuesday, Jun 20 2017 IST
 
Managing Director of Kotak Mahendra Asset Management Co Ltd Nilesh Shah today said India has emerged as the fastest growing major economy in the world as per the Central Statistics Organisation (CSO) and International Monetary Fund (IMF).

He said the Central Government has forecasted that the Indian economy will grow by 7.1 per cent in FY 2016-17. As per the Economic Survey 2016-17, the Indian economy should grow between 6.75 and 7.5 per cent in FY 2017-18. The improvement in India's economic fundamentals has accelerated in the year. Indian Stock market is now growing up like a phenomenon to the financial establishments and showing up a new trend to the global capital market.

Mr Shah said to reconstruct the Indian Financial scenario initiatives such as Make in India, Invest India, Start up India and e-biz Mission Mode Project under the National e-governance Plan are expected to further improve the ease of doing business and provide a boost to manufacturing in the country.

He also mentioned, "As per NITI Ayog's directional framework, the government plans to focus on 5 major areas of infrastructure in order to augment overall infrastructure, attract investments and facilitate overall growth. Railways, Roads, Sagarmala project (for ports and coastal development), Inland waterways and Housing for All by 2022."

The Indian Stock market is undoubtedly depicting the new face of economic uplift for the corporate world. The entire new facet of Indian economic system has lessened the impact of the economic crisis to a greater extent.

Stressing much on the emerging Sino-Trade trends of the two powerhouses of the world India and China, Calcutta Chamber of Commerce (CCC) president Dinesh Jain in a Talk Session on the agenda of 'Re-Architecting India: Where Will It Lead Sensex To?' held in the city today said the Calcutta Chamber of Commerce is the vanguard of development in trade and commerce serving since 186 years. We at the CCC believe discussions and dialogues lead to enhancement and resolution of self and the country.

He said to reconstruct the Indian Financial scenario initiatives such as Make in India, Invest India, Start up India and e-biz Mission Mode Project under the National e-governance Plan are expected to further improve the ease of doing business and provide a boost to manufacturing in the country.

Other steps taken by the government in recent times include - Smart City, Urban development, Digital India initiative, Financial and communications inclusivity, Revitalizing public sector banks. These have shown positive results. The Indian financial scenario is not re-building, but is in making towards something newer, way bigger and better, Mr Jain added.

Also present at the session were State's top business leaders, leaders of civil society and senior members of the diplomatic core whose presence added special meaning to this occasion.UNI BM

-- (UNI) -- C-1-1-DL0214-942676.Xml

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