Economy should be better next year: Jamshyd N Godrej

Source: Press Trust of India via Indian Economic Business News

Striking a positive note, Godrej and Boyce Manufacturing Company CMD Jamshyd N Godrej recently said the economy should be in a better position next year. “It is difficult to say (when the economy will recover). I think next year should be better,” he said. “The government is talking about six to seven per cent growth rate.” It was difficult to forecast the kind of growth, but if the government puts right policies in place, things would change for better, he said. Showing persistent sluggishness, India’s economy grew by 5.5 per cent in the April-June quarter, mainly on account of poor performance of manufacturing, mining and farm sectors. The gross domestic product had expanded by 8 per cent in the April-June quarter of 2011-12. Besides, the economic growth in the January-March quarter last fiscal was at nine-year low of 5.3 per cent.