[04/11/09 - AFP]
Economic growth in India will reach 8% next year and could go up 9% the following year with the global economic recovery, said Wednesday a government official.
The Indian economy, which experienced growth rate of 9% before the global financial crisis, is expected to grow 6.5% in 2009, said Montek Singh Ahluwalia, head Deputy Economic Planning Commission.
"This will be a year of economic slowdown because of the international situation but we have the growth rate second highest in the world (After China), "said Ahluwalia.
Ahluwalia, a close adviser to Prime Minister made the remarks at the annual conference of economic editors in New Delhi.
growth was also driven by the bottom, because of the driest season recorded in four decades, which affected agricultural production.
But the Committee Planning has estimated that if the rains persisted at normal levels next year, and if the international economy continues to recover, India would register a growth of 8% in 2010 and 9% the following year.
The government says India needs to achieve growth of at least 9% to reduce the overwhelming poverty of the country.
Ahluwalia's optimism was bolstered by expectations of the trade minister, Anand Sharma. He said that exports were declining during the last 12 months, should reverse the trend by the end of the current fiscal year.
indiennnes exports fell 13.8% in September to 13.6 billion dollars compared to the previous year. The decline in exports was however lower than that recorded in August (19.4%).
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