Market Report India: Goods and Services Tax has hit manufacturing

Editor: Franziska Breunig

Various companies feel implementation of GST is challenging and manufacturing is the most affected sector, according to a recent survey.

Indian companies feel implementation of GST is challenging.
Indian companies feel implementation of GST is challenging.
(Source: Depositphotos.com)

More than 31 per cent of the chief financial officers (CFOs) from various companies feel implementation of GST is challenging and manufacturing is the most affected sector, according to a recent survey. Further, over 54 per cent CFOs believe that the impact of demonetisation has been neutral, while 56 per cent are “highly optimistic” of the country's macro-economic growth in the next 4-5 years, the Deloitte Annual CFO survey said.

“The country remains optimistic about economic prospects, as it remains buoyant post demonetisation and amongst global uncertainties,” the survey report noted. Given the macro-economic trends that point to a possible global growth revival, there will be opportunities to increase exports and investment which have been a concern for the past few quarters, it said.

For more news visit our facebook page or twitter.

Subscribe to the newsletter now

Don't Miss out on Our Best Content

By clicking on „Subscribe to Newsletter“ I agree to the processing and use of my data according to the consent form (please expand for details) and accept the Terms of Use. For more information, please see our Privacy Policy.

Unfold for details of your consent

(ID:44833458)