Indian economy growing at near pre-recession rate: Prez

Indian economy growing at near pre-recession rate: Prez

President Pratibha Patil on Thursday said Indian economy was resilient to global financial crises and growing at a pace close to the pre-recession rate, which is a positive signal for friendly nations to invest in the country.

"The Indian economy has weathered the impact of the global financial crises with resilience and is now growing at rates close to those it had achieved prior to the crises...."

"We believe this growth will not only qualitatively transform our economy, but will give a boost to economic relations with friendly countries, also offering them many opportunities for trade and investment," Patil, who is on a five-day state visit to Laos said.

In the last quarter, the economy has posted a remarkable growth, not only in terms of overall growth figures, but more importantly, in terms of certain fundamentals, which justify optimism and confidence in the Indian economy, Patil said.

The President said she would meet the leadership of Laos on Friday and together review the "entire gamut of our relations, and seek ways to further develop our partnership".

She hailed the achievement of the Indian community in Laos in businesses ranging from textile to mining.

"I am happy that several corporate groups from India participated in the development of important hydropower, irrigation, agarwood and mining projects in Laos," Patil said.

Earlier, Patil was received by Khempheng Pholsena, Minister in the Office of Prime Minister of Laos, at the Wattay airport in Vientiane upon her arrival as part of her two-nation tour that will also take her to Cambodia.