“The economy is on a positive trajectory. With some help from external environment, the economy is likely to witness higher growth in FY 2018,” said S Narayanan, Chairman, Confederation of Indian Industry, Coimbatore zone.

Reacting to the recently released GDP figures, Narayanan said the economy has been on a strong growth path post-demonetisation. “We expect to achieve higher growth level in the coming quarters. Large businesses have initiated efforts to integrate their supply chain into cashless mode,” he said. Post-demonetisation, it is important that the focus returns to useful policy measures such as ease of doing business, make-in-India and GST among others. For the consumer, the ease of making digital payments has become quite evident now. Many, even in rural areas, have switched to these instruments.

With rural demand showing signs of picking up, companies are looking for a stronger growth in consumption across sectors.