India’s economic recovery gains momentum in recent months – industry body PHDCCI | The reactivation of the Indian economy accelerates in recent months: PHDCCI


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The reactivation of the Indian economy accelerates in recent months: PHDCCI

New Delhi: The revival of the Indian economy has accelerated in recent months, driven by an increase in vaccinations, the holiday season, and improving consumer and industry sentiments. Industry body PHDCCI said this on Sunday. The GPS PHDCCI Economy Index rose to 131 in October. At the beginning of last month it was at 113.1. During the first seven months of this fiscal year, April-October, it stood at 114.8, compared to 78.7 in the corresponding period of the previous fiscal year.

PHDCCI President Pradeep Multani said the issues of high commodity prices and raw material shortages need to be addressed today to support consumption and private investment. Multani said households should focus on increasing consumption to increase aggregate demand. This will also accelerate capital investment.

The GPS Index of Economics of the Doctorate Chamber of Commerce and Industry measures macroeconomic and business activity. Your base year is 2018-19 = 100. Estimate the direction of the economy based on three indicators of collection of goods and services tax (GST), passenger car sales, and Sensex (daily average).




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