According to the BMI research by Fitch group company, it is expected that the rise in foreign direct investment (FDI) will boost the economic growth of India. The growth can be attributed by the development in the business conditions and certain changes like liberalisation of domestic single brand retail trading to 100 per cent ownership through FDI. The acceptance of this policy might encourage the foreign investors to invest in India, the sources said.
Due to impact of demonetisation and GST, certain industries including manufacturing have initiated many activities which helped the Indian economy to grow from 6.6 per cent in FY 2017-18 to 7.3 per cent in FY 2018-19.
The research states that the economy growth of the Bangladesh and Pakistan will slow down due to political uncertainty and rise in economic imbalances while that growth will pick up in India and Sri Lanka.
– Apparel and Textile News, Apparel Talk, Indian Apparel
