Indian economy likely to record double digit growth in FY22: ASSOCHAM

14 Sep 2021 CW Team

According to an ASSOCHAM assessment, consumer confidence is improving in several key sectors of the economy, including contact services like hospitality, and construction and renovation activities have been picking up for the past few months, resulting in the return of migrant workers seeking gainful employment.

Despite its low starting point, the Indian economy is expected to grow by double digits in the fiscal year 2021-22, keeping the catch-up mode alive. The recovery seen in the first quarter of this fiscal year should become a long-term trend.

The overall situation concerning the pandemic should improve further as the government, along with the state governments of Kerala and Maharashtra, work together to reduce the Covid-19 incidence through a multi-pronged strategy.

ASSOCHAM has established itself as the knowledge fountainhead for the Indian industry, which is poised to reshape the dynamics of growth and development in the technology-driven knowledge-based economy.

ASSOCHAM is seen as a forward-thinking, proactive organisation that is preparing to meet the aspirations of corporate India in the new business world.

ASSOCHAM is working to improve India's business environment so that it is more competitive in the global market.

The Promoter Chambers and other Industry or Regional Chambers or Associations that are spread across the country give ASSOCHAM its strength.

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Also read: India’s GDP increases 20.1% in Q1 FY22 compared to FY21

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