India tipped for 10% growth
December 21, 2007
Dec 21, 2007 -- /prbuzz/ --India is targeting economic growth of ten per cent by 2012, the country's Prime Minister has announced.

Mahmohan Singh told top government officials that the growth would be attainable with "the correct set of policies" which could enable the county to "maintain this momentum of high growth into the near future".

However, he also sounded a note of caution that growth may be hampered by the credit crunch in months to come.

He said: "There are worries that the growth of the U.S. and other major economies may slow down, and some may even go into a recession. This may impact both our exports as well as capital flows.

"Our economy is now increasingly integrated [with] the global economy, with the external sector accounting for almost 40 per cent. We can't be fully immune to international developments."

News of Mr Singh's projections comes as recent figures showed that India's economy has grown by nine per cent annually for the last three years.

This is attributed in part to increased investment from overseas, with data released this week indicating a 65 per cent rise to $7.2 billion in the first half of 2007.

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About the Press Release
London, Thursday, December 20, 2007 -- ARANCA NEWSTRACK – (aranca)


 
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