Prime Minister Manmohan Singh said on November 5 9-10 percent economic growth is sustainable for many years, and the government has ambitious plans to modernise infrastructure. 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 the government would continue to reform institutions and systems to make the economy more efficient.I must draw your attention to the fact that the road of such reforms over the past two decades has been a one-way street. Different political parties of different ideological hues have been in office over the past two decades. Yet no policy reforms has ever been reversed.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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