The Indian economy continues to show signs of growth despite global uncertainties associated with crude oil prices, rupee depreciation, liquidity crunch, trade protection owing to curbs announced by the US, China and other countries, etc. Exports still remain low but experts believe that the consumption may go up in the near term. Sectors like road construction are already witnessing a pick up while auto, realty and manufacturing are expected to follow suit. Largely, the business prospect in the Indian economy is looking bright.
Recently in the second quarter (July-September) of the financial year 2018-2019, revenues of most of the Indian companies have improved, however, profitability still remained low on the back of increased costs. According to the data released by the Reserve Bank of India, capacity utilisation was at 75.2 per cent in the quarter ended March 2018, the highest in last two years. Analysts believe that capacity utilisation is steadily increasing since then which indicates that the private sector will gradually invest in capacity expansion to cater to higher demand expected in the future. A number close to 100 per cent indicates full-capacity utilisation, which may lead to more corporate investments.
Indian economy registered a gross domestic product (GDP) growth rate of 7.1 per cent in second quarter. Among the major areas that contributed towards the wholesome GDP growth rate, sectors like manufacturing, electricity, gas, water supply and other utility services, construction, public administration and defence grew over 7 per cent in the reporting period. While, on the other hand, growth rate in sectors such as agriculture, forestry and fishing, mining and quarrying, trade, hotels, transport, communication, financial, real estate and professional services slowed down.
The key economic reforms in the last four and half years have also impacted Indian businesses. Although, the hurried implementation of Goods and Services Tax (GST) have impacted most of the businesses, especially in the informal sector, though, corporates seem to have coped up with the new law. The implementation of GST has helped in formalising the economy, with more and more companies now filing returns. Analysts believe that GST collections will continue to maintain its upward trend as compliance is increasing gradually. The demonetisation drive which was announced two years back had caused an initial tightening of funds in the economy but companies and individuals have adjusted to the new system.In order to discuss the business prospects of Indian companies in India and abroad and to deliberate upon the steps required to unleash the true potential of India Inc, Times Network is presenting its flagship event – the India Economic Conclave (IEC). Backed by the theme of ‘Shaping India’s 5 trillion growth agenda’, the conclave will be held in Mumbai from December 12-13, 2018 at NCPA, Nariman Point. IEC 2018 will witness the attendance of some of the notable thought-leaders, key policymakers, global visionaries and iconic leaders from India Inc. who will discuss crucial solutions and ideas that the CEOs should implement to drive India towards becoming a $5 trillion economy. Celebrating the leadership of the Indian economy at the world stage, the event will engage with the top 1000 CEOs of India who are driving the India growth Get ready to witness two-days of action packed discussions and dialogues with corporate stalwarts like AM Naik, Group Chairman, L&T Ltd; Gopichand Hinduja, Co – Chairman, Hinduja Group; Kiran Mazumdar Shaw, CMD, Biocon Ltd.; Rajesh Gopinathan, CEO & MD, TCS Ltd; Zia Mody, Founder and Managing Partner, AZB & Partners; Arundhati Bhattacharya, Former SBI Chairman.
To register visit: http://indiaeconomicconclave.com