"The stronger recovery has been of India's, which is not being talked about," he told reporters on the way

back from Indonesia as part of Prime Minister Manmoha n Singh-led high- level delegation. Uncertain global economic conditions, combined with outflow of foreign funds fr om stock markets, among other factors, saw rupee plunging to nearly 70 against t he US dollar. Besides, there were significant volatility in the capital market. However, in recent weeks, the rupee has recovered and is trading at little over 60-level against the dollar. The government has also initiated various measures to boost the economy. Stating that growth in FDI has been robust, Sharma said in the last four years, the country received USD 174 billion, whereas the total flows were USD 296 bill ion since 2000. "This year as well, we are doing very well on FDI front, and therefore the CAD (Current Account Deficit) issue will be addressed. "Also, we have brought down the unnecessary imports and the exports have been i n positive double digit growth in last three months," the Minister said. On whether there would be interest rate cuts for the industry, Sharma said it w ould depend on many factors and the decision was to be taken by the Reserve Bank of India. "However, the government is expanding the list of priority sectors that would g et interest rate subvention, so that the issue is covered in a different manner and the funds are not a problem for important sectors," he said. Regarding the latest industrial production numbers, Sharma said that it "takes time for the sentiments to improve and the manufacturing sector to rebound". Industrial production growth rate dropped to 0.6 per cent in August after some signs of improvement in the previous month. "The stronger recovery has been of India's, which is not being talked about," he told reporters on the way back from Indonesia as part of Prime Minister Manmoha n Singh-led high- level delegation. Uncertain global economic conditions, combined with outflow of foreign funds fr om stock markets, among other factors, saw rupee plunging to nearly 70 against t he US dollar. Besides, there were significant volatility in the capital market. However, in recent weeks, the rupee has recovered and is trading at little over 60-level against the dollar. The government has also initiated various measures to boost the economy. Stating that growth in FDI has been robust, Sharma said in the last four years, the country received USD 174 billion, whereas the total flows were USD 296 bill ion since 2000. "This year as well, we are doing very well on FDI front, and therefore the CAD (Current Account Deficit) issue will be addressed. "Also, we have brought down the unnecessary imports and the exports have been i n positive double digit growth in last three months," the Minister said.

On whether there would be interest rate cuts for the industry, Sharma said it w ould depend on many factors and the decision was to be taken by the Reserve Bank of India. "However, the government is expanding the list of priority sectors that would g et interest rate subvention, so that the issue is covered in a different manner and the funds are not a problem for important sectors," he said. Regarding the latest industrial production numbers, Sharma said that it "takes time for the sentiments to improve and the manufacturing sector to rebound". Industrial production growth rate dropped to 0.6 per cent in August after some signs of improvement in the previous month. "The stronger recovery has been of India's, which is not being talked about," he told reporters on the way back from Indonesia as part of Prime Minister Manmoha n Singh-led high- level delegation. Uncertain global economic conditions, combined with outflow of foreign funds fr om stock markets, among other factors, saw rupee plunging to nearly 70 against t he US dollar. Besides, there were significant volatility in the capital market. However, in recent weeks, the rupee has recovered and is trading at little over 60-level against the dollar. The government has also initiated various measures to boost the economy. Stating that growth in FDI has been robust, Sharma said in the last four years, the country received USD 174 billion, whereas the total flows were USD 296 bill ion since 2000. "This year as well, we are doing very well on FDI front, and therefore the CAD (Current Account Deficit) issue will be addressed. "Also, we have brought down the unnecessary imports and the exports have been i n positive double digit growth in last three months," the Minister said. On whether there would be interest rate cuts for the industry, Sharma said it w ould depend on many factors and the decision was to be taken by the Reserve Bank of India. "However, the government is expanding the list of priority sectors that would g et interest rate subvention, so that the issue is covered in a different manner and the funds are not a problem for important sectors," he said. Regarding the latest industrial production numbers, Sharma said that it "takes time for the sentiments to improve and the manufacturing sector to rebound". Industrial production growth rate dropped to 0.6 per cent in August after some signs of improvement in the previous month. "The stronger recovery has been of India's, which is not being talked about," he told reporters on the way back from Indonesia as part of Prime Minister Manmoha n Singh-led high- level delegation. Uncertain global economic conditions, combined with outflow of foreign funds fr om stock markets, among other factors, saw rupee plunging to nearly 70 against t he US dollar. Besides, there were significant volatility in the capital market. However, in recent weeks, the rupee has recovered and is trading at little over 60-level against the dollar. The government has also initiated various measures

to boost the economy. Stating that growth in FDI has been robust, Sharma said in the last four years, the country received USD 174 billion, whereas the total flows were USD 296 bill ion since 2000. "This year as well, we are doing very well on FDI front, and therefore the CAD (Current Account Deficit) issue will be addressed. "Also, we have brought down the unnecessary imports and the exports have been i n positive double digit growth in last three months," the Minister said. On whether there would be interest rate cuts for the industry, Sharma said it w ould depend on many factors and the decision was to be taken by the Reserve Bank of India. "However, the government is expanding the list of priority sectors that would g et interest rate subvention, so that the issue is covered in a different manner and the funds are not a problem for important sectors," he said. Regarding the latest industrial production numbers, Sharma said that it "takes time for the sentiments to improve and the manufacturing sector to rebound". Industrial production growth rate dropped to 0.6 per cent in August after some signs of improvement in the previous month. "The stronger recovery has been of India's, which is not being talked about," he told reporters on the way back from Indonesia as part of Prime Minister Manmoha n Singh-led high- level delegation. Uncertain global economic conditions, combined with outflow of foreign funds fr om stock markets, among other factors, saw rupee plunging to nearly 70 against t he US dollar. Besides, there were significant volatility in the capital market. However, in recent weeks, the rupee has recovered and is trading at little over 60-level against the dollar. The government has also initiated various measures to boost the economy. Stating that growth in FDI has been robust, Sharma said in the last four years, the country received USD 174 billion, whereas the total flows were USD 296 bill ion since 2000. "This year as well, we are doing very well on FDI front, and therefore the CAD (Current Account Deficit) issue will be addressed. "Also, we have brought down the unnecessary imports and the exports have been i n positive double digit growth in last three months," the Minister said. On whether there would be interest rate cuts for the industry, Sharma said it w ould depend on many factors and the decision was to be taken by the Reserve Bank of India. "However, the government is expanding the list of priority sectors that would g et interest rate subvention, so that the issue is covered in a different manner and the funds are not a problem for important sectors," he said. Regarding the latest industrial production numbers, Sharma said that it "takes time for the sentiments to improve and the manufacturing sector to rebound". Industrial production growth rate dropped to 0.6 per cent in August after some

signs of improvement in the previous month. "The stronger recovery has been of India's, which is not being talked about," he told reporters on the way back from Indonesia as part of Prime Minister Manmoha n Singh-led high- level delegation. Uncertain global economic conditions, combined with outflow of foreign funds fr om stock markets, among other factors, saw rupee plunging to nearly 70 against t he US dollar. Besides, there were significant volatility in the capital market. However, in recent weeks, the rupee has recovered and is trading at little over 60-level against the dollar. The government has also initiated various measures to boost the economy. Stating that growth in FDI has been robust, Sharma said in the last four years, the country received USD 174 billion, whereas the total flows were USD 296 bill ion since 2000. "This year as well, we are doing very well on FDI front, and therefore the CAD (Current Account Deficit) issue will be addressed. "Also, we have brought down the unnecessary imports and the exports have been i n positive double digit growth in last three months," the Minister said. On whether there would be interest rate cuts for the industry, Sharma said it w ould depend on many factors and the decision was to be taken by the Reserve Bank of India. "However, the government is expanding the list of priority sectors that would g et interest rate subvention, so that the issue is covered in a different manner and the funds are not a problem for important sectors," he said. Regarding the latest industrial production numbers, Sharma said that it "takes time for the sentiments to improve and the manufacturing sector to rebound". Industrial production growth rate dropped to 0.6 per cent in August after some signs of improvement in the previous month. "The stronger recovery has been of India's, which is not being talked about," he told reporters on the way back from Indonesia as part of Prime Minister Manmoha n Singh-led high- level delegation. Uncertain global economic conditions, combined with outflow of foreign funds fr om stock markets, among other factors, saw rupee plunging to nearly 70 against t he US dollar. Besides, there were significant volatility in the capital market. However, in recent weeks, the rupee has recovered and is trading at little over 60-level against the dollar. The government has also initiated various measures to boost the economy. Stating that growth in FDI has been robust, Sharma said in the last four years, the country received USD 174 billion, whereas the total flows were USD 296 bill ion since 2000. "This year as well, we are doing very well on FDI front, and therefore the CAD (Current Account Deficit) issue will be addressed. "Also, we have brought down the unnecessary imports and the exports have been i n positive double digit growth in last three months," the Minister said.

On whether there would be interest rate cuts for the industry, Sharma said it w ould depend on many factors and the decision was to be taken by the Reserve Bank of India. "However, the government is expanding the list of priority sectors that would g et interest rate subvention, so that the issue is covered in a different manner and the funds are not a problem for important sectors," he said. Regarding the latest industrial production numbers, Sharma said that it "takes time for the sentiments to improve and the manufacturing sector to rebound". Industrial production growth rate dropped to 0.6 per cent in August after some signs of improvement in the previous month.