Monday, November 29, 1999

Indian economy to grow by 8.5%: CII

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Industry chamber CII has projected the Indian economy to expand by up to 8.5 per cent in the current fiscal from estimated 7.2 per cent in 2009-10, but called for greater reforms, particularly in the financial sector, to push growth to double digits."CII estimates GDP growth at 8-8.5 per cent in 2010-11 ...A recovery in agriculture is likely in the coming years leading to upside in GDP growth; Industry and services to remain strong as capacity expansion takes place to take advantage of the rising demand," Confederation of Indian Industry President Hari S Bhartia said.Bhartia further said that the industry is estimated to grow by 8.5 to 9 per cent, services by 9.3 to 9.5 per cent and agriculture by 2 to 3.5 per cent this fiscal.

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