02 February 2012 21:39 [Source: ICIS news]
NEW DELHI (ICIS)--?xml:namespace>
Rajiv Kumar, secretary general of the Federation of Indian Chambers of Commerce and Industry (FICCI), told the PlastIndia conference that
Delivering the keynote speech at the two-day conference being held on 2-3 February, Kumar noted that India’s fourth quarter 2011 GDP growth was 6.9% and that this year’s expansion pace is likely to be 7-7.5%, a point lower than the nation’s most recent seven-year average of 8.5% GDP growth.
“Given the aspiration levels, a young population, and 12m jobs that need to be created every year in
He noted that India’s stock market and purchasing managers index (PMDI) are both at an eight-month high, the rupee (Rs) is gaining strength against the US dollar – climbing to Rs48/$1 from its earlier Rs52 ranking – saying that “India’s economy may hold good” in fiscal year 2012-2013.
However, he said,
He said that he hopes that
Consequently, Kumar said, “We have to rethink our growth strategies in terms of external demand” because trade volumes among developed nations are not as strong as those seen in 2010.
He said that
He also urged that
Kumar said that
“The private sector has to grow alongside with the government,” he said.
He said he expects
The six-day PlastIndia exhibition runs through 6 February.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections