India to return to 9 percent growth trajectory: PM

November 10th, 2008 - 9:41 pm ICT by IANS  

Doha, Nov 10 (IANS) India will eventually return to a 9 percent growth trajectory despite the current global financial crisis because of its inherent strengths and size of markets, Prime Minister Manmohan Singh said here Monday evening.”The present international economic and financial situation has clouded some of the prospects of growth in the near term,” Singh said while addressing a gathering of the Indian diaspora in Qatar here.

“I am, however, confident that the long term outlook for our economy remains strong and robust. Our inherent strengths, the large size of our markets, the diversified industrial base we possess, and the strong and dynamic private sector will eventually allow us to return to a 9 percent growth trajectory,” he said.

Earlier, addressing a gathering of the Omani business community in Muscat Sunday, Singh had said that despite the global economic downturn, the Indian economy was expected to maintain a growth rate of seven to 7.5 percent.

Singh, who came on a three-day tour of Oman and Qatar, returns to India Monday night.

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