Mumbai:
India is poised to achieve a 10 per cent GDP growth
in the current fiscal, finance minister P Chidambaram
said after inaugurating a defence-oriented private manufacturing
facility near Coimbatore.
"With
efforts put in by entrepreneurs, industrialists and all
other sections of the society, the country achieved 7.5
per cent growth in the first year of the UPA rule followed
by 9 per cent the next year and 9.4 per cent in the just
concluded financial year and I am confident that GDP growth
would touch the 10 per cent mark this fiscal," Chidambaram
said.
While
the government''s confidence in the reforms was the main
reason for the unprecedented economic growth, Chidambaram
said private manufacturer Saarc Tech Tool deserves to
be congratulated for taking up the challenge of making
packaging system for defence and war equipment.
Chidambaram
also regretted the fact that a country like India had
to import coffins at a cost of Rs1.10 lakh per box to
bring back the bodies of soldiers who died in the Kargil
war.
The
Saarc Tech plant, built at a cost of Rs9 crore, would
manufacture defence-oriented products like roto moulded
transit cases (boxes), which could be used by defence
forces for carrying sophisticated defence equipment. The
plant has a capacity to manufacture 60,000 boxes annually,
the company managing director P Murugesh said.
The
company aims to achieve a turnover of Rs100 crore in the
next five years, Murugesh said.
|