Indian Economy Surges 9.1% In Half Year

Manufacturing leads growth.

India's economy grew 9.1% in the first half of the financial year to September led by strong manufacturing growth, the government said Dec.29. "An important and favorable development in recent times is the growing sign of an industrial resurgence, particularly in manufacturing," junior finance minister S.S Palanimanickam told parliament while presenting a mid-year economic review.

Industry recorded growth of 10.9% during April to September, while services grew at 10.7%.

The telecommunications sector saw an annual average growth of 27.1% from 2000 to 2005, according to the review figures.

Prime Minister Manmohan Singh has set a target of 9% annual growth. Lifting annual growth to 9% from 8% over the next five years was "ambitious but feasible", Singh said on December 9.

Copyright Agence France-Presse, 2006

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