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INDIA'S APEX CHAMBERS TAKE GDP GROWTH DECLINE IN STRIDE.
NEW DELHI, Sep 1 Asia Pulse - Taking moderation in economic growth in their stride, the apex industry chambers of India on Friday said the decline in GDP expansion was not unexpected, but the cost of borrowing needs to come down.
Rating agency Moody's, however, was quite concerned over the pace of the manufacturing segment, which, it said, was "extremely weak by historical standard".
It warned that India's export and manufacturing outlook would remain cloudy until the giant US and European economies come out of the current downturn.
For the Indian industry, the GDP numbers were no surprise. "The overall growth rate of 7.9 per cent meets our expectations," Confederation of Indian Industry said.
It said the investment pipeline was strong as there were no shortage of funds. The rural demands remain strong and growth in ...
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- News wire article from: PTI - The Press Trust of India Ltd. August 29, 2008 700+ words
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- 15% GDP growth rate will eradicate poverty: Experts.
- News wire article from: PTI - The Press Trust of India Ltd. September 8, 2007 700+ words
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Source: HighBeam Research, INDIA'S APEX CHAMBERS TAKE GDP GROWTH DECLINE IN STRIDE.