Chemical industry pins growth hope on next government


GrowthPlagued by stagflation, the chemical industry hopes that the new government to put the economy back on growth path by fast-tracking policy initiatives

The country is gearing up for next general election, with the last working day of the 15th Lok Sabha coming to an end on February 21, 2014. The economic growth has been going down in last two years, with experts holding the Central government’s policies (or lack of it) responsible for the poor show along with external factors. Though Finance Minister, P Chidambaram announced some measures to revive investment and boost consumption in his interim Budget2014, industry feels this may be too late, too little.

“With growth decelerating and no major investment on the horizon, earlier estimates of the chemical industry growth of 11% and an estimated $224 billion size by 2017, appear difficult. While we understand that the Finance Minister was presenting a Vote on Account, we had hoped that the government would tweak a few tax rates, bring about rationalisation in corporate tax, or simplify cess or duty structure,” said Vipul Shah, President, CEO & Chairman, Dow Chemical International Pvt Ltd and APAC Regional Director, Functional Materials.

READ MORE…

SOURCE: http://www.business-standard.com/

Advertisements

Tagged as: , , , , , , , , , , , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: