GDP growth at 7.2% in Q3 2017-18 inspiring, strong signs of economic revival visible: PHD Chamber

New Delhi, February 28, 2018: The GDP growth at 7.2% in Q3 of 2017-18 is inspiring and strong signs of economic revival are visible, said Mr. Anil Khaitan, President, PHD Chamber of Commerce and Industry in a press statement issued here today.

The construction sector registered a high growth 6.8% in Q3 2017-18 as compared with 2.8% in Q2 2017-18.

The revival of construction sector is inspiring and an indicative of broad based recovery in the economy, said Mr. Khaitan.

The agriculture sector registered a growth of 4.1% in Q3 2017-18 from 2.7% in Q2 2017-18. As the focus of the government is to boost growth and productivity of the sector, we look forward growth to strengthen in the coming quarters too, he said.

The manufacturing sector also registered a significant growth of 8.1% in Q3 2017-18 from 6.9% in Q2 2017-18 which is highly encouraging and an indicative of improved ease of doing business, he added.

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However, the mining and quarrying registered a growth of (-)0.1% in Q3 2017-18 from 7.1% in Q2 2017-18. This could be due to the high base effect, he said.

The government must therefore focus on policy for the mining and quarrying to upscale its growth in the coming times, added Mr. Anil Khaitan.

Going ahead, we believe the growth trajectory should continue to improve as teething problems of GST are almost over and the economy is looking up once again, said Mr. Khaitan.