India Has To Take Steps To Avoid Recession-Hit US Economy

Kochi: India has to take remedial measures to avoid the adverse impact of the recession-hit American economy in order to achieve the targeted growth rate of nine per cent or above, Union Labour Minister Oscar Fernandes said on Feb 3. If we can put in more hard work we can even reach the double digit of 10 per cent, Fernandes said. Efforts should be taken to see that India becomes a producer country and not a trading country. Claiming that India was poised to achieve a very high growth rate, Fernandes said it had already crossed 8.5 per cent. Our target is somewhere between 9 and 9.5 per cent. Regretting that there was a dearth of researchers in India as compared to China, he said Beijing was producing 10 doctorate holders against India''s one.