The PHD Chamber of Commerce and Industry (PHDCCI) in India recently said that it expects the Indian economy to grow at 6-7 per cent during the current fiscal year, keeping in mind current trends.
The Chamber President Saket Dalmia stated that production has bounced back and there is a ‘big’ demand in the country but the cost of capital is a key challenge for the MSME sector.
Besides that, PHDCCI has identified 75 potential products to promote exports in 75 countries like the US and Europe in order to help India achieve the trade target of US $ 750 billion by 2027.
Cotton and textiles would be a key focus among the 75 prospective products, along with toys, clothing, sporting goods, etc, according to the chamber’s report.
“We are also planning a new initiative on facilitating women start-ups to increase the contribution of women-owned businesses in the economy,” Dalmia added.
