Suggestions on importance of diversification and expansion to advanced economies like Japan for textiles was a welcome step and the ministry will support this endeavour, the Union minister said.
A cooperative set up in Changlang district has helped 500 Tibetan families living in Miao to become self-reliant with help from the district administration, writes Prasanta Mazumdar
Goyal emphasised that the Centre is promoting both cotton and man-made textile sector so that it gets larger share of world market.
Shehbaz Sharif on Thursday had warned that the country may witness more difficult times as it struggles to steer itself out of the ongoing economic crisis.
India's economy grew 8.7 per cent in the last fiscal (2021-22) against a 6.6 per cent contraction in the previous year.
For Sri Lanka, the Prime Minister said, the only safe option now is to hold discussions with the International Monetary Fund.
"We are expecting a 7.5-per cent growth rate this year that will make us the fastest-growing major economy," Modi said in his address.
Ministers of State for External Affairs V Muraleedharan, Meenakshi Lekhi and Rajkumar Ranjan Singh also attended the meeting.
Nirmala Sitharaman is scheduled to meet heads of public sector banks on June 20 and is expected to take a stock of credit growth, asset quality and plan revival of the economy, sources said.
Shakikanta Das said the RBI's tolerance toward high inflation during the pandemic was a necessity and the central bank stands by its decision.
The president emphasized the battered economy that he inherited and the lingering psychological scars caused by a pandemic that disrupted people's sense of identity.
The RBI also takes heart from the fact that inflation in May has recorded a fall after seven months of continuous rise.
The S&P 500 climbed 54.51, or 1.5%, to 3,789.99 after whipping through roller-coaster trading immediately following the Fed's latest move to fight inflation.
Fed officials forecast unemployment ticking up this year and next, reaching 4.1% in 2024 — a level that some economists said would risk a recession.
Amid rising attrition and challenge, many IT companies are reportedly planning on opening centres in small towns.