GST to boost economic growth in last 3 qtrs of FY18: Adi Godrej

The implementation of the Goods and Services Tax (GST) can add 1.5-2.0 percent to the country’s GDP feels Adi Godrej, Chairman of Godrej Group. "Sectors lagging right now due to various reasons, including demonetisation, will pick up strongly, and the last 3 quarters of this financial year will be very good for the economy," he told CNBC-TV18 in an interview on the sidelines of the Edelweiss India Conference.

Godrej has been a strong advocate of a corporate tax rate cut, which did not come through in the recent Budget. He now hopes the Reserve Bank will cut rates by 25 basis points to help spur growth.

With remonetisation taking place well, Godrej is confident of good growth in the consumer products’ business in the January-March quarter. 

On competition from Patanjali, Godrej said, “We pay more attention to our consumers than competitors,” even as he congratulated Patanjali on its strong show so far.