Godrej asks govt to offer stimulus package for Indian companies

Godrej asks govt to offer stimulus package for Indian companies
PTI
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First Published: Sun, Nov 16 2008. 03 33 PM IST
Updated: Sun, Nov 16 2008. 03 33 PM IST
New Delhi: Business conglomerate Godrej Group has asked the government to offer a stimulus package on the lines of China to help Indian companies sustain its growth momentum.
“Some of the sectors like properties has been hit due to the slowdown,” said Adi Godrej, Chairman of Godrej Group that has interests in real estate as well as FMCG and consumer durables.
“But the consumer durables segment continues to grow,” he said, speaking on the sidelines of the India Economic Summit organised by the World Economic Forum.
Godrej asked the government to offer a package like the $586 billion package announced by China to bolster the economic growth of the country. China’s move is expected to boost domestic consumer demand amid falling exports due to the global economic downturn.
While India, too, has taken several measures, including easing credit availability by cutting key policy rates, the industry has said these were not enough and sought greater access to funds.
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First Published: Sun, Nov 16 2008. 03 33 PM IST