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Indian GDP to grow at 7.2%: CII

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  • Indian GDP to grow at 7.2%: CII

    GDP to grow at 7.2%: CII

    November 03, 2003 18:19 IST
    Last Updated: November 03, 2003 20:27 IST

    The Confederation of Indian Industry on Monday revised upwards its projections for the country's gross domestic product growth to 7.2 per cent for 2003-04 as against its earlier projection of 6.5 to 6.8 per cent.

    "Although we believe in some sense that this (7.2 per cent) projections also could be somewhat conservative," CII National President Anand G Mahindra told reporters in Bangalore.

    Attributing the growth to low inflation, downward bias of interest rates and a feel good factor in the industry, he said, the CII would make a detailed announcement tomorrow on the various parameters it adopted for revising its earlier projections.

    He said there was 16 per cent growth registered in exports during September as compared to previous months.

    Mahindra said a CII business confidence index survey revealed an improvement of 3.3 points during the first half and improved confidence for the next six months.

    "Confident index is about 4.0 points for the entire year as compared to last year," he said, adding that the Indian industry of firms in 134 sectors, Mahindra said in about nine sectors registered a growth of 20 per cent, in 42 from 10 to 20 per cent, growth of zero to 10 per cent in 55 sectors and negative growth in 20 sectors.

    "This was much better compared to last year," he said, adding that India Inc was globally competitive.

    A grain of wheat eclipsed the sun of Adam !!

  • #2

    Racing past the 5,000-mark, the BSE Sensex settled at 5,063.03 for the first time since April 14, 2000. The Nifty also gained 45.75 points, or 2.94%, to end at 1,601.65, first time after April 12, 2000. The benchmark index hit the magical figure at 10.13 am. It appeared as if the 5,000-level was not enough for the Sensex. Reflecting the strength, the Sensex continued to race ahead even after crossing the 5,000-mark in early trades, thanks to higher growth estimates projected by the RBI. The fancied Sensex has soared by a whopping 2,130 points since May this year, making India one of the fastest gainers in the world this year.
    A grain of wheat eclipsed the sun of Adam !!