Davos (Switzerland), Jan. 30 : The Union Commerce and Industry Minister Kamal Nath said here that the Indian economy would continue to grow at a steady pace of 7 to 7.5 percent.

Addressing a press conference at the World Economic Forum here on Friday, Nath said the Indian economy grew by 7.8 per cent in the first half of this fiscal and is expected to maintain the same growth rate, more or less, in the next financial year.

When enquired about the reasons for him believing that India would continue its progress amidst worldwide economic slowdown, Nath said: "Indian economy will not be sustained merely by exports, but by the domestic demand."

Commenting on the Satyam Computers fiasco, he said the Company would continue to provide its clients world class services.

Nath however, admitted that the Satyam fraud was shocking and surprising, but he also made it clear that it was a one-off incident and it didn't reflect the true picture of the Indian corporate sector, which maintains global standards of management. (ANI)