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Tamil Nadu
“Indian economy witnessing steady and resilient growth”
Special Correspondent
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It is expected to come out stronger after the global recession
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— Photo: M. Srinath
Tête-À-tête: Nachiketh Mor, right, president, ICICI Foundation for Inclusive Growth, having a word with K.V. Rangaswami, left, Whole-time Director and president (Construcation) Larsen and Toubro, at SASTRA University in Thanjavur on Friday.
THANJAVUR: The Indian economy had been witnessing a steady and resilient growth at an average of nine per cent in the last four years, said K. V. Rangaswamy, whole-time director and president (construction), Larsen and Toubro, Chennai, here on Friday.
Inaugurating ‘Daksh ’09,’ a national-level technical contest at SASTRA University, Mr. Rangaswamy said that growth was mainly driven by domestic demand while external trade also played a role. India had a strong foreign exchange reserve, contributed mostly by IT industries. A long-term strength of Indian economy was that the Government finances were in a manageable shape. “India is expected to come out stronger after the global recession,” Mr. Rangaswamy added.
S. Vaidhyasubramanian, Dean, SASTRA, said that the symposium attracted over 6,800 students from 160 institutions in the country.
In another lecture, ‘Role of ICT in rural finance sector,’ Nachiketh Mor, president of ICICI Foundation for Inclusive Growth, said that Institute for Financial Management and Research Trust introduced Kshetriya Gramin Financial Services in Thanjavur and Tiruvarur districts to ensure that every individual and every enterprise in rural area had financial access. Fourteen branches were functioning in Thanjavur district and the plan was to make it 300 in both districts.
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