New Delhi, Jan 6 (The CONNECT) –  The growth in real GDP during 2023-24 estimated at 7.3 per cent by NSO is in line with our expectations and we look forward to a more robust GDP growth in the year ahead, 2024-25, said Sanjeev Agrawal, President, PHD Chamber of Commerce and Industry.

Despite the global headwinds such as Russia-Ukraine war, the Gaza-Israel conflict, slowing global growth and high interest rates, the Indian Economy is able to move fastest among the leading economies, Agrawal said

“We appreciate our manufacturing sector for growing at more than 6%. The reforms undertaken by the government since the start of Make in India are becoming visible,” he said.

Going ahead, the consistent growth in mining & quarrying, and construction sector, would help the country’s growth to become more stronger in the coming years, he said.

The gross fixed capital formation at 34.9 percent of GDP, higher than 34 percent in 2022-23, is indicating that capacity expansion is on the steady mode and more employment opportunities are on the cards.

Reducing the cost of doing business, and enhancing the ease of doing business at the factory level would stimulate the sentiments of the producers for increased capacity expansion and deployment of more workers in their respective factories, he added.