IIP will not impact GDP growth: Nirmala Sitharaman

• Union Minister of State for Commerce and Industry Nirmala Sitharaman, dismissed fears about the latest data on index of industrial production (IIP), saying they were overly worrisome and would not impact the country’s GDP growth.
• The Minister, along with Minister of State for Textile Santosh Gangwar, was here to meet the stakeholders in the jute industry.
• Responding to reporters’ queries, Ms. Sitharaman said over the last few months, the government had improved the ease of doing business. There were signs of revival, or else agencies such as Standard and Poor’s would not have assigned a stable outlook to India.
• To a question on FTAs (free trade agreements), she said a review of SEZs (special economic zones) and FTAs was now in the final stages. The new Foreign Trade Policy, due to be announced soon, would give domestic manufacturers and exporters the benefit of the revisions.
• She said her Ministry wanted better utilisation of the FTAs for boosting exports, adding that India was keen on FTAs with ASEAN countries.
• On WTO negotiations, Ms. Sitharaman said India believed in multi-lateral agreements, but not at the cost of the country’s sovereignty.