New Delhi, Feb 8 - Commerce Minister Anand Sharma Monday hoped the Indian economy would grow 7.5 percent in the current fiscal.

"Hopefully, we will grow at about 7.5 percent this year. Our government is determined to further accelerate the momentum of growth," Sharma said while addressing the second India Arab Investment Conclave here.

The advance estimates of the country's gross domestic product released Monday by the Central Statistical Organisation (CSO) forecast a growth rate of 7.2 percent this fiscal, compared to 6.7 percent achieved last fiscal, despite a 0.2 percent decline predicted in farm output.

Sharma said India would seek to double its trade with the Arab world from the current $114 billion. "We have set a target of doubling trade with the Arab world by 2014." (IANS)