No Slowdown, Says Adi Godrej In Big Thumbs Up To Economy

No Slowdown, Says Adi Godrej In Big Thumbs Up To Economy

Worries over economic growth based on the April-July quarter are exaggerated, prominent member of India Inc Adi Godrej has said, stressing that things have already changed since July and that he is “quite optimistic about the future.”

“I don’t believe there has been an economic slowdown. People are commenting on the June quarter GDP figure, which was a low 5.7 per cent. That was mainly because growth in June was slow…April and May were not bad and June was slow because it was the month preceding the launch of GST, people were downstocking, not clearing goods,” the chairman of the Godrej group told NDTV, reporting that his companies “have fared well in the July-September period.”

He shares that assessment with the World Bank that says the deceleration in the first quarter is an aberration “mostly due to temporary disruptions in preparation for the GST,” and that it expects the new national tax to “have a hugely positive impact on the economy.”  Read More…

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