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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: India to meet 7.0 pct growth this year: politicians AFP - Sunday, February 1 DAVOS , Switzerland (AFP) - - Indian politicians expressed optimism Saturday that India will achieve seven percent growth this year, saying the economy would resist the global downturn better than fellow Asian giant China. ADVERTISEMENT "The IMF is pessimistic about 2009. We're not," Montek Singh Ahluwalia, deputy chairman of India's Planning Commission, told the World Economic Forum in Davos. The International Monetary Fund this week projected that India's economy would expand by just 5.3 percent this year, while India's central bank has forecast 7.0 percent. Ahluwalia said Indian exports such as information technology products have been hit, but the country has a smaller reliance on exports than neighbouring China. In addition, it has "high reserves" as the government had not allowed the rupee to appreciate in the boom years. Kapil Sibal, India's minister of science and technology, pointed out that although many jobs have been lost in India, they were mostly in the skilled sector. "The people who have been laid off in India are skilled people. These people would have been able to find jobs," he said, saying that outsourcing to India is likely to increase as foreign companies seek to lower costs. "I didn't say that it would be easy, I said we will get there," he said. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Asian airlines trim down for expected hard landingAFP - 1 hour 30 minutes ago Japan's listed firms hit by 71 pct profit slump: surveyAFP - 1 hour 57 minutes ago Global crisis hits China's huge Yiwu market, but optimism remainsAFP - 2 hours 16 minutes ago Rising bond market tensions bode ill for ObamaAFP - Sunday, February 1 Related Articles: Business San Miguel Brewery 2008 net income up over 25 pctReuters - 1 hour 17 minutes ago S.Korea suffers record export fall as downturn bitesReuters - 1 hour 21 minutes ago Asian airlines trim down for expected hard landingAFP - 1 hour 30 minutes ago Strike by 24,000 refinery workers averted for nowAP - 1 hour 46 minutes ago Japan's listed firms hit by 71 pct profit slump: surveyAFP - 1 hour 57 minutes ago Enlarge Photo India to meet 7.0 pct growth this year: politicians Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Turkish PM defends Gaza outburst Octuplets' mother already had six children: report Soldier suicides hit record in 2008: US Army Exxon notches 45.22 billion dlrs record profit World Social Forum tells Davos to fix crisis -- or else View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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