Various initiatives have been taken which have borne some results for instance in terms of markets becoming more attractive, inflation coming down, however, ASSOCHAM feels that the good days in its true essence are yet to come.
"We feel that it must remain the primary objective of the government to address challenges that would further boost the industrial growth at this juncture," added Kapoor.
"The need is to segregate the business activities in the country and support the more viable opportunities," he said.
"For instance the delay caused in project implementation due to various reasons further compound the injury of the industry. If at least these delays can be avoided then a huge number of projects would become more viable," further said the ASSOCHAM president.
"Similarly at present, if monsoon concerns are true then this could impact the agriculture production and the economic growth. With farm incomes suffering it could also very well impact the demand for industrial goods. Therefore, this also needs to be tackled to avoid any such consequences," he added.
It is unless we get a few continuous months of similar strong data we cannot safely say that the trend has reversed. While data is obviously positive the process of actually a revival taking place will need some time and a few more bold steps," said the ASSOCHAM chief.
FICCI comments on IIP Data for April 2015
Meanwhile, Dr. Jyotsna Suri, President, FICCI said "The manufacturing growth seems to be gaining momentum now as is evident from the healthy growth of key sectors like capital goods and also from the fact that growth is more diversified. We are hopeful that this momentum will continue since there is a commitment at the highest level."
"Government has taken several steps in the last few months to improve the business environment and enhance the investor confidence which is now going to yield results. Since ‘Ease of doing Business' is an important factor in attracting investments in the country, we are happy to see several steps being taken in that too," she added.
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