Financial Daily from THE HINDU group of publications
Monday, Sep 13, 2004
Financial Daily from THE HINDU group of publications Monday, Sep 13, 2004 |
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Industry & Economy
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Industry Associations CII sees higher investments Our Bureau
New Delhi , Sept. 12 THE Indian industry is witnessing an upturn in the investment cycle with manufacturing and services sector driving the growth, said the Confederation of Indian Industry (CII). While the automotive industry has the potential of growing at a rate of 10 per cent or more per year, the auto component industry can grow at 10-15 per cent per year, during the next decade, it added. Massive investments are also flowing into sectors like cement, iron and steel, and paper. ITC and Ballarpur, two of the major players in the Indian paper industry, have concrete plans to invest heavily in the sector in the coming years. The auto component industry recorded exports worth $1 billion last year; and according to a McKinsey study, this figure could reach $30-40 billion in the next 10 years. Among the services sectors, healthcare is witnessing significant growth mainly because of the capacity in providing quality healthcare at affordable rates. In the Union Budget 2004-05, the Government has laid great emphasis on improving the quality of rural healthcare.
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