October 7, 2010 5:04 PM

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India poised for 9 per cent growth, Pranab tells global investors

Finance Minister has told global investors that India is poised for a 9 per cent growth and they cannot afford to miss the opportunity for investment. Asking them to participate in the growth story, Pranab Mukherjee said in the short term it is reasonable to expect Indian economy to bounce back to the robust growth path of around 9 per cent average. Mukherjee was addressing the seventh India Investment Forum meeting in Wasdhington on Thursday.Recalling how India managed to withstand the impact of global financial meltdown, he said it pulled down the economic growth to 6.7 per cent in 2008-09 from 9 per cent in the preceding three years. Pointing out that GDP was 8.8 per cent in the first quarter of this year, Mukherjee said there has been a revival in investment and private consumption demand, though the recovery is yet to attain the pre-2008 momentum. The International Monetary Fund IMF has projected the Indian economy to grow by 9.7 per cent in 2010, driven by robust industrial production and macro-economic performance.

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