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India loses around 5-7 per cent of its Gross Domestic Product (GDP) every year due to corrosion, International Zinc Association (IZA) said on Wednesday. The association also stressed upon the need for immediate and appropriate measures by authorities to control further damage. Speaking during a webinar on emerging, sustainable construction technologies like Continuous Galvanized Rebar (CGR), IZA Director (India) Rahul Sharma said, India loses as much as 5-7 per cent of its Gross Domestic Product (GDP) every year on the account of corrosion. These are staggering figures that require immediate and appropriate measures by authorities to control further damage. Continuous Galvanized Rebars are value-added rebars for higher life and low maintenance of infrastructure to provide significant cost savings compared to other corrosion resistant rebar systems.
After the second wave of Covid-19 pandemic had hit the country hard, which led the Reserve Bank of India (RBI) reduce its Gross Domestic Product (GDP) growth projection by 1 per cent in the current financial year, Rajiv Kumar, Vice-Chairman, NITI Aayog on Saturday said he is confident that every organisation will revise their growth projections to 10-10.5 per cent once they witness the growth rate by October. Everyone will revise their growth projections once our economy will start recovering. The recovery will start from June itself and will get pace from July. I am confident that everyone will revise their growth projections to 10 per cent-10.5 per cent once they see the growth of economy after October month, said Rajiv Kumar in an exclusive interview to ANI.
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