PR No – 12
1st December, 2023
Consistent high growth of GDP encouraging: PHD Chamber
Continued momentum in the growth of GDP is encouraging and expectations of a more than 7% GDP growth in the full financial year are becoming strong, said Mr. Sanjeev Agrawal, President, PHD Chamber of Commerce and Industry in a press statement issued here today.
Broad-based recovery across the sectors supports the growth at high level, said Mr. Agrawal
The high growth of Manufacturing at 13.9% followed by Construction at 13.3%, and Electricity, Gas, Water Supply, and other Utility Services at 10.1% are inspiring and indicate that economic activity is now on the high road, he said.
The Mining & Quarrying sector also grew strongly at 10%, said Mr. Sanjeev Agrawal.
We appreciate that despite the global headwinds, the economy continues to grow consistently. The continued high momentum of Gross Fixed Capital Formation at 35.3% of GDP is inspiring and indicative of continuous expansion of the CAPEX in the coming quarters, said Mr. Agrawal.
We are glad to see that India is emerging as a beacon of economic resilience, and continues to be a bright spot in the global economic landscape, said Mr. Agrawal.
We are optimistic that, despite global headwinds, our economy will continue to grow as one of the fastest among the major economies, said Mr. Sanjeev Agrawal, President PHDCCI.
PHD Chamber of Commerce and Industry