India's Prime Minister, Dr. Manmohan Singh presenting the National Award-2006 to Shri A.C. Shanthakumar, Managing Director, M/s Coir Tuft International Pvt. Ltd at the National Award Presentation function of Micro, Small and Medium Enterprises in New Delhi on August 30, 2007.

India's economic growth accelerated in pace in the last quarter - second quarter of the calendar year and first quarter of the country's fiscal year, boosting inflation concerns that may force the central bank to raise interest rates further.

Quarterly GDP at constant (1999-2000) prices showed a growth rate of  9.3 per cent over the corresponding quarter of previous year, according to the The Central Statistical Organisation (CSO). Growth was 9.1 per cent in the Jan-March period of 2007.

The CSO said that the economic activities which registered significant growth in the quarter over the same period last year, are ‘manufacturing’ at 11.9 per cent, ‘electricity, gas & water supply’ at 8.3 per cent, ‘construction’ at 10.7 percent, ‘trade, hotels, transport and communication’ at 12.0 per cent, ‘financing, insurance, real estate and business services’ at 11.0 per cent, and ‘community, social and personal services’ at 7.6 per cent.  The growth rates in ‘agriculture, forestry & fishing’ and ‘mining & quarrying’ are estimated at 3.8 per cent, and 3.2 per cent, respectively during this period.

The growth compared with a gain of 1.8 percent in the US, 2.5 percent in the eurozone and 2.3 percent in Japan. China's economy grew 11.9 percent.