India’s economic growth likely to be in double-digits in FY22: PHDCCI
With India's GDP expanding by a better-than-expected 8.4 per cent in second quarter of current financial year (Q2FY22), industry chamber PHDCCI has said the country's economic growth may be in double-digits in current financial year (FY22).
PHDCCI President Pradeep Multani stated on the back of meaningful and proactive reforms undertaken by the government, calibrated measures by the RBI, rapid vaccination drive, improved consumer and business sentiments and low base effect, the economy has recovered from the severe contraction of 2020-21.
He added the chamber projects the overall GDP growth to be in double-digits at 10.25 per cent for FY22. At this juncture, he said, there is a need to address the high commodity prices and shortages of raw material to support the consumption and private investments in the country.
