PR No – 152
30th August, 2024
New Delhi
Q1 FY25 GDP at 6.7% inspiring: PHDCCI
Economy growing robust despite global headwinds, said the industry body PHDCCI
India’s growth at 6.7% in FY 2024-25 is inspiring despite deepening geopolitical distress and global macroeconomic headwinds, said Mr. Sanjeev Agrawal, President, PHD Chamber of Commerce and Industry.
India remains resilient and has emerged as a growth leader among the major advanced, emerging and developing countries, said Mr. Agrawal.
India is showing strong resilience with the support of a conducive policy environment and the efforts of trade and industry. The Q1 FY 2024-25 GDP growth at 6.7% indicates a strong growth trajectory to continue in the coming quarters too, said Mr. Sanjeev Agrawal.
Manufacturing, construction and electricity sectors have become the major growth drivers in the recent quarters, said Mr. Sanjeev Agrawal.
The manufacturing sector has grown at 7% in Q1 FY 2024-25 on the back of strategic reforms and prudent policy measures by the government and efforts of industry, said Mr. Sanjeev Agrawal.
The consistent growth in the construction sector is indicating the creation of new employment as the construction sector absorbs skilled, semi-skilled and unskilled chunks of workforce, said Mr. Sanjeev Agrawal.
High growth in the Electricity, Gas, Water Supply & Other Utility Services at 10.4% in Q1 FY 2024-25 is motivating as this will boost the manufacturing activities in the economy, said Mr. Agrawal.
The tertiary sector growing at a steady pace of 7.2% is inspiring, displaying that India’s growth momentum will continue, said Mr. Agrawal.
The gross fixed capital formation at 34.8% of GDP for Q1 FY 2024-25 is indicating steady capacity expansion for more employment opportunities in the coming times, said Mr. Sanjeev Agrawal.
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Warm Regards,
Media Division
PHD Chamber of Commerce and Industry