FM's New Year wish: 7 per cent growth

In order to sustain the high growth, Chidambaram appealed for investment in infrastructure and agriculture.

After ensuring that India got the recognition of a "potential global economic powerhouse" last year, Finance Minister P Chidambaram on Sunday made his New Year wish of sustaining over 7 per cent growth in 2006.

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"In the year 2005, India received significant international recognition as potential global economic powerhouse. I hope that in 2006, India will make substantial progress towards realising that potential," Chidambaram said in his message for the New year.

"The only way to make growth more inclusive is to sustain the rate of growth in excess of 7 per cent over the next year. And I am confident that the year 2006 will continue the trend," he said.

In order to sustain the high growth, he said investment needs to be stepped up particularly in infrastructure, agriculture and social sector.

"The key to addressing growth with equity in this country is agriculture," he said adding UPA was committed to step up public investment and flow of credit to the farm sector.

"Manufacturing is another area with tremendous potential to create employment," Chidambaram said.

He said India have a competitive advantage in certain areas of manufacturing and services including automobiles, auto components, gems and jewellery, pharma, IT and BPO sector.

"In 2006, I look forward to greater investment taking place both domestic and FDI in all these sector.