Ficci said the central bank's indication yet again to continue with the accommodative stance, until necessary, to revive growth is encouraging. Assocham said the full credit must be given to the RBI for prioritising growth and retaining the accommodative stance on policy rates. However, given the way the COVID situation has evolved, some of the deeply stressed sectors may need a longer period to be able to meet the financial parameters.
Goyal said that those investing in India, should not just look at assembling the Semi-knocked down kits or availing import duty concessions, but must bring technologies, best practices and do value-addition "Our government will stand shoulder-to-shoulder with industries in their efforts to become more competitive and engage with the world on equal and fair terms" He invited the Indian industry to walk together, support each other, and work towards a prosperous India in the long run and a better future for the generations to come
"FICCI will fully support the PM’s dream of a self-dependent India and ensure all measures to make this a reality. The strengthening of the five pillars — economy, infrastructure, system, demography, and demand will pave the way for India returning to a higher sustained growth path again,” said FICCI President.
India's economic growth has slowed to 4.5 per cent in the July to September quarter from 7.1 per cent in the corresponding period of last year, said the government data on Friday (November 29). The slowdown in Q2 FY20 was largely due to a sharp dip in the manufacturing sector and agriculture output, said the Ministry of Statistics and Programme Implementation in a statement.