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Resilient India

NEW DELHI – With the world’s most developed economies reeling under the incubus of what is already being called the Great Recession, India at the beginning of the year took stock and issued a revised estimate for GDP growth in the 2008-2009 fiscal year. Its projection came out at a healthy 7.1%.

It is striking that even amid all the doom and gloom assailing world markets, there is no fear of a recession in India. Even the pessimists are speaking only of lower positive growth.