PHDCCI sanguine on GDP growth momentum coming quarters

28th October 2021, Mumbai:

The PHD Chamber of Commerce and Industry (PHDCCI) one of the key industry body is quite optimistic on GDP growth outlook going forward in the upcoming months with the economy continuously on the mend. As per the chamber the consumption story continues to be robust.

Revival of exports, strong domestic demand tailwind on the back of arrival of festivity, promising job hiring and better than corporate earnings day in day out. Look at the tax collections including GST collections, stock market, all are in the direction of improving macroeconomics. Low interest rates with easy liquidity is likely to kick in the virtuous cycle and private investments.

Gross capital formation (GCF) also is refering to the aggregate of gross additions to fixed assets as in a solid factor to gauge the health of the economy. The headline inflation also thankfully is staying in the RBI's comfort band.

However, there are headwinds/ downside risks in the form of firming up of the high commodity prices and shortages of raw materials that can only undermine the consumption and private investments in the country which the authorities need to address and set their eyes on, observed Pradeep Multani, president of industry body PHDCCI.

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