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Groei BBP India hapert

Graphic News

June 4, 2019 -- Indiase bedrijfsorganisaties dringen bij de pas herkozen premier Narendra Modi aan op krachtiger economische hervormingen, die aan de aspiraties van de jonge en ambitieuze bevolking van het land tegemoetkomen.

The call comes as India’s hotly awaited first-quarter economic growth cooled to 5.8 per cent -- its slowest pace since Modi was first elected in 2014 -- costing the nation the title of fastest growing economy in the world.

The Confederation of Indian Industry (CII) wants changes to tax policies to encourage more risk capital, government help for companies seeking land for projects, and reforms of the labour code to promote employment. The CII says this would help push the growth of India’s gross domestic product towards a target of 10 per cent a year.

The appeal for reforms comes just days after Modi started a second five-year term in office, against the backdrop of a sharp economic slowdown and rising trade tensions with the U.S. On Friday, President Donald Trump stripped India of duty-free access for $6.3 billion worth of exports to the U.S.

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