A Revolution In Supply Chains

A Revolution In Supply Chains

- Onkar S. Kanwar

THE INITIAL hiccups of the new tax regime have subsided and the wounds of demonetisation have healed. It is now time for businesses to grow stronger on the reinforced foundation of the Indian economy.

“2018 should be 2017 in reverse,” says Nomura. The global investment bank has predicted India’s economy to grow at 7.5 per cent in 2018, saying it is on the cusp of a cyclical recovery. In fact, it expects the growth in the first half of 2018 to be at 7.8 per cent, higher than the 7.1 per cent in the second half of 2017.

The latest report on India’s economy by the UN pegsits growth at 7.2 per cent in 2018, while it expects it to touch 7.4 per cent in the following year on robust private consumption, public investment and structural reforms.

The International Monetary Fund (IMF) has lowered the growth projection for 2018 to 7.4 per cent from its earlier estimate of 7.7 per cent. However, the IMF is more optimistic about medium-term growth prospects for India through gains from the new indirect tax levy.