Economy

If vaccines successful, economy may see record growth by Q3 in ’21, says Harsh Goenka

Hemani Sheth Mumbai | Updated on January 15, 2021 Published on January 15, 2021

‘We in RPG given go-ahead for capital expansion, possible acquisitions; all our plants are running at 100% capacity’

Harsh Goenka, Chairman, RPG Enterprises, on Friday said the Indian economy could witness record growth in Q3 2021 if the Covid-19 vaccines are successful.

Goenka, who is quite active on Twitter, wrote in a post that the economy could witness record growth this year citing robust demand.

“Substantial inquiries in our civil construction business for expansion in auto, chemical and cement industries.

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“We in RPG given go-ahead for capital expansion, possible acquisitions. Demand is looking robust. If vaccines successful, economy may do record growth by Q3 in ’21,” Goenka tweeted.

Goenka had expressed previously his optimism about India’s economic recovery citing increased manufacturing and recovery in auto and agriculture sectors, among other factors.

“I am optimistic about our economy: - Manufacturing in Oct highest in decade, - Auto sector-Double digit growth in Oct - Agri sector up 3.4% (Q2) - Tractor sales up 40% - Migrant workers back - FII inflow high - Sensex all-time high - India Inc PAT up >40% (Q2) - Nominal GDP gap down to 4%,” tweeted Goenka in November 2020.

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“My own experience: - All our plants are running at 100% capacity - Demand is very strong - Rural markets have never been better - Slight shortage of raw materials - Back to hiring more people. INDIA IS BACK!!!,” he added.

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Published on January 15, 2021
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