Industry expects GDP growth of around 9 per cent during 2010-11
Sep 01, 2010
India's
economy witnessed 8.8 per cent growth in the June quarter year-on-year, its
fastest pace since early 2008. Supported by the high growth of the Indian
economy in the first quarter of 2010-11. The industry further expects the gross
domestic product (GDP) to expand by around 9 per cent during 2010-11, mainly driven
by robust manufacturing and services growth, and a pick-up in the farm
production sector.
According to
Confederation of Indian Industry (CII), strong
GDP growth in the first quarter of 2010-11 is encouraging and will assist India
to maintain its place as the second fastest growing economy in the world.
As per Mr Chandrajit Banerjee, Director General, CII, "the economy
will grow at 8.5 per cent for the full year." Furthermore, Mr Banerjee opined
that, "while growth in the agriculture was strong, the growth rate in
mining and construction has been modest."
Moreover, CII has suggested the government to ensure measures to improve
the business environment so that investment inflows continue to remain strong.
