FM hints at policy mix

With India8217;s GDP nearing 800 billion and exports of goods and services at a record 133 billion, Finance Minister P. Chidambaram on Friday hinted at a 8216;8216;mix of policies8217;8217; to spur investment and growth, three weeks ahead of the Budget.

8216;8216;Today India is confident and optimistic8230; This has given us foundational strengths for erecting a mix of policies that will push the trend rate of growth further,8217;8217; Chidambaram said at a conference organised as part of the G-7 summit here.

With economy logging 7.5 per cent growth in many years, he said India has the potential to grow at 10 per cent.

Reeling out statistics, Chidambaram said India8217;s GDP at market prices was nearly 800 billion annually, exports of goods and services touching 133 billion and net capital inflows averaged 19 billion a year. 8216;8216;There is tremendous energy and spirit of experimentation that have been unleashed. India today is a beehive of ambitious individuals and firms,8217;8217; he said, adding a new aspect of India8217;s globalisation was outward FDI by India Inc, who are now enormously confident in becoming MNCs.