Growth is a necessity but consistency and sustainability are the key factors for real growth. We need to look way ahead while setting up a business to meet the ever-changing market demand. So it is entrepreneur's responsibility to look ahead of times, to achieve long term goals of a business by working towards innovation, development, deployment, commercialization of new products & services driven technology for a sustainable impact on economic growth.
The Wholesale Price Inflation (WPI) eased a bit in April 2018, standing at 3.18% as compared to corresponding month of the previous year, which was 3.85%. However, it is was still on a higher side as compared to March, 18 (2.47%).The ease in WPI numbers may have corresponding impact on CPI but rise in the price of essential commodities will offer limited option to rate cut by RBI.
Continuous increase in the prices of petrol and high speed diesel due to rise in prices of crude oil globally shall have to be taken care of by the policy makers since it may have impact on import bills and subsequent impact on exchange rates.
ASSOCHAM continued its efforts to highlight industry's concerns on number of issues by organizing various thematic events. ASSOCHAM organized the summit on ' ICT Start-Ups Awards-2018' where Mr. Ravi Shankar Prasad, Union Minister for Electronics & Information Technology said that his ministry is working in a mission mode to make India's digital sector a $1 trillion economy in next five years and a potential to create 50 to 70 lakh new jobs.
ASSOCHAM also organized the' Annual India Investment Conference' where Mr. Neeraj Gupta, Secretary, Department of Investment and Public Asset Management (DIPAM) was the Chief Guest. "In last few years, despite challenges and transformational decisions, the government is committed to continue to fiscal discipline and continue higher growth", he said. When such an approach is there, other sources of funds in the economy become more and more important. India remains a fastest growing economy as the government has undertaken various initiatives to build an ecosystem which is conducive for growth of inflows from domestic and foreign funds.
The country's future prospects seem positive based on the reforms and the path forward.