India to grow at 9.50% in 2010: IMF

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Washington, DC: India’s growth will accelerate to about 9.50 percent in 2010 as robust corporate profits and favorable financing conditions fuel investment, and then settle to 8.50 percent in 2011, according to International Monetary Fund projections.

Large domestic demand bases in India, China, and Indonesia, which contribute substantially to Asia’s growth, could also provide the region a cushion in the event of external demand shocks, the IMF said on July 8.

As Asia’s strong recovery from the global financial crisis continues, despite renewed tension in global financial markets, world growth is projected at about 4.50 percent in 2010 and 4.25 percent in 2011, according to the July update of IMF’s World Economic Outlook (WEO).

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