Growth in India

India’s economy is expected to grow 8.5% in the current year and 9% in 2010/11, Prime Minister Manmohan Singh said on Friday.
“However, high unemployment in countries that are industrialized, threatens a revival of protectionist sentiment, especially since the use of conventional monetary and fiscal tools to revive the economy has been exhausted,” he said in a speech at the plenary session of the G-20 summit in Seoul.
India’s economy grew 9% in each of the four years prior to the economic crisis but slowed to 6.7% growth in 2008-09.
“Uncertainty about the prospects of inudstrialised countries affects the investment climate and dampens the medium-term growtn prospects of emerging market countries,” Singh said.