Prime Minister’s trade panel reviews economy

Prime Minister’s trade panel reviews economy

New Delhi: Prime Minister’s Council on Trade and Industry today reviewed the state of Indian economy and discussed the need for maintaining the robust industrial growth.

The meeting chaired by Prime Minister Manmohan Singh was attended by Commerce and Industry Minister Kamal Nath and Planning Commission Deputy Chairman Montek Singh Ahluwalia.

Industry leaders, including Ratan Tata, Rahul Bajaj, Mukesh Ambani and Sunil Bharti Mittal, who are members of the council, also participated in the discussions.

The council met in the backdrop of the economy sustaining growth rate of above 9% in the first half of the current financial year backed by a strong expansion in industrial production.

The economy, however, faces challenges of sharp rise in rupee value, which has affected exports, and hardening of the commodity prices, including crude oil, in the international market.