TIL Desk/Business/New Delhi/ India will witness strong economic growth in the coming year, despite external vulnerabilities arising from rising oil prices, the US-China trade war and America’s monetary tightening, the Confederation of Indian Industry body (CII) said on Sunday.
Commenting on the country’s growth outlook for 2019, the industry body said its optimism is buttressed by strong drivers emanating from services sector, infrastructure structure including construction equipment and better demand conditions arising out of spending occasioned by the general elections due in early 2019.
“Better demand conditions, settled GST implementation, capacity expansion from growing investments in infrastructure, continuing positive effects of reform policies and improved credit offtake especially in the services sector at 24 per cent will sustain the robust GDP growth in the range of 7.5 per cent in 2019,” CII Director General Chandrajit Banerjee said in a statement.
