Prime Minister Manmohan Singh said on Oct 29, 9-10 percent economic growth is sustainable for many years, and the government has ambitious plans to modernise infrastructure. It is undeniable that India is on a new growth trajectory. A trajectory where sustained economic growth of 9-10 percent per annum - growth rates which were considered impossible even five years ago - seems possible for many years to come.
India estimates it needs about $475 billion between 2007 and 2012 to upgrade its roads, expand and modernise its ports, improve rail services and boost power generation. Singh said India was committed to the successful functioning of a rule-based multilateral trading system and wanted an early successful completion to the Doha development round. The Doha round, launched six years ago in Qatar to boost trade in agriculture, industry and services, and help poorer countries export more, has become bogged down due to countries'' concerns over exposing their markets to more competition.
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