Emerging economies can expand without growth in U.S., EU: Ahluwalia
Tuesday, 28 September 2010, 08:13 IST   |    2 Comments
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New Delhi: Emerging economies can expand at a "reasonable pace" in the next four to five years even if growth in developed nations is moderate, Planning Commission Deputy Chairman Montek Singh Ahluwalia said. India's economy is forecasted to grow by 8.5 percent this year, he said in his keynote address at the World Capital Markets Symposium organised by Malaysia's Securities Commission. However, he expressed the hope that India's GDP growth rate will go up to 9 percent in the near future. He said developing countries will be able to maintain strong economic growth rates, even though the primary drivers have slowed down. Ahluwalia also noted that India needed to pump in a lot more into its infrastructure development programme. Commenting on the state of the world economy, the Planning Commission Deputy Chairman said that growth was anaemic and there were fears of a global slowdown. He noted that growth in the U.S., the world's biggest economy, has been sputtering, but emerging markets were doing well.
Source: PTI
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