Demand is picking up across sectors and the economy is getting back on track, felt members of CII's National Council, at a meeting held in Mumbai recently.
Projects which had been placed on the backburner after the financial crisis are slowly coming back on the table. Although bank credit growth remains sluggish, this has been partly compensated by other sources of finance from the capital market. The availability of foreign capital has increased with India being viewed as a favourable investment destination. According to the CEOs snap poll conducted at the meeting, over 70% of members felt that GDP growth will exceed 6% in 2009-10. more.
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